L 


HENRY     RAND     HATFIEUD 

2695     LE    CONTE     AVENUE 

BERKELEY.  CALIFORNIA 


ALVMNVS  BOOK  FVND 


rt   WOOD'S 

OLD  BOOK 

515  lift 

-  Oalif, 


NO.  139  WASHINGTON,  (CORNER  OF  SCHOOL  STREET,)  BOSTON, 

Offers  his  services  for  the  Adjustment  of  Disputed  and  Complicated  Accounts,  Insolvent  and  other  Estates. 

Books  Posted,  Examined,  Balanced,  &c.    Arbitrations  attended.    Deeds,  Leases,  Specifications, 

Contracts,  &c.  accurately  drawn  up.    Copying,  and  all  kinds  of  Business  Writing, 

EXECUTED     WITH     FIDELITY     AND     DESPATCH. 


COMER'S    INITIATORY   COUNTING-ROOM, 

Which  has  been  in  successful  operation  TEW  years,  (upwards  of  two  thousand  students  having  attended 
this  establishment  up  to  the  present  year,  1850,)  is  open  DA.V  and  EVENING,  for  preparing  students  for  the 
practical  duties  of  Merchants'  Clerks,  and  the  other  active  pursuits  of  life  —  not  the  mei-e  school-boy  theories 
of  the  Academies,  but  such  knowledge  as  shall  enable  the  graduate,  at  once,  to  undertake,  with  confidence, 
the  labors  of  the  Counting-House. 

TERMS : 


A  course  of  Instruction  in  MERCANTILE  WRITING, 
one  lesson  each  day  or  evening,  for  one  month-  •  $5.00 

A  course  of  Instruction  in  COMMERCIAL  ARITH- 
METIC, one  lesson  each  day  or  evening,  for  one 
month $5.00 


A  course  of  Instruction  in  MERCANTILE  WRITING 
and  COMMERCIAL  ARITHMETIC,  or  either,  one  lesson 
each  day  or  evening  for  three  months $10.00 


A  course  of  Instruction  in  MERCANTILE  WRITING, 
BOOK-KEEPING,  MENTAL  and  COMMERCIAL  CALCU- 
LATIONS,  $15.00 

The  duration  of  the  course  is  until  the  student  is  per- 
fectly capable  of  taking  charge  of  any  set  of  Books 
whatever.  The  student,  in  this  course,  can  devote  the 
whole  of  the  day  and  evening,  or  any  part  thereof 
which  mav  suit  his  convenience.  The  average  length, 
of  time,  occ«;T>ied  by  a  person  of  ordinary  capacity, 
devoting  the  whcle  day,  is  one  month.  ,  The  expense 
of  the  stationery  for  this  course  will  not  exceed  $1.50. 


MR.  COMER  respectfully  announces  that  ha  has  provided  a  separate  apartment,  having  a  t 
for  Ladies,  whom  he  proposes  to  instruct  in  as  thorough  and  practical  a  knowledge  of 


as  he  has  hitherto  exclusively  imparted  to  the  other  sex,  with  such  favorable  acceptance. 
TERMS    FOR    LADIES: 


A  Course  of  Instruction  in  WRITING,  one  Lesson 


each  afternoon  or  evening,  for  one  month 


$4.00 


A  Course  of  Instruction  in  COMMERCIAL  ARITHME- 
HO,  one  Lesson  each  afternoon  or  evening,  for  one 


month 


$4.00 


A  Course  of  Instruction  in  WRITING  and  A 
TIC,  or  either,  one  Lesson  each  alternoon  or  evening, 


for  three  months, 


$8.00 


A  Course  of  Instruction  in  WRITING,  BOOK-KEEPING, 
and  HOUSEKEEPING  ACCOUNTS,  time  unlimited-  •  $10.00 


EMPLOYMENT. 

Having  frequent  applications,  Mr.  COMER  can  usually  procure  employment  for  such  of  his  students  as  may 
require  it.  Hundreds  ef  his  former  students  are  now  filling  responsible  situations  in  the  city  and  vicinity, 
mostly  procured  upon  his  recommendation  ;  to  whom,  and  to  numerous  Merchants,  Solicitors,  Insurance 
and  other  Companies,  who  have  employed  him  in  his  capacity  of  an  accountant,  reference  is  made. 


1C?-  There  is  no  Class  System. 


N.B.    Payment  in  all  oases  in  advance, 
the  mon-ey  refunded. 


Each  Student  receives  separate  instruction. 
Entire  satisfaction    guarantied,  or 


NEW  WORK   ON    BOOK-KEEPING. 


"A  SIMPLE  METHOD  OF  KEEPING  BOOKS  BY  DOUBLE    ENTRY," 

WITHOUT  THE  FORMULA  OR  TROUBLE  OF  THE  JOURNAL, 

Adapted  to  the  most  extensive  wholesale,  or  the  smallest  retail  business;  to  which  is  added  a  number  of  tk» 
most  rapid  and  accurate  methods  of  making  commercial  calculations. 

BY    GEORGE    N.    COMER,    ACCOUNTANT,    BOSTON,    MASS. 

FIPTH  EDITION,  price  62K  cents,  and  Blank  Books  for  this  work,  price  30  cents  per  set,  (a  liberal  allowance 
to  Teachers,)  for  sale  at  Comer's  Initiatory  Counting  Room  and  Nautical  Institute, 

No.  139  Washington  Street,  Boston. 

Numerous  testimonials  of  the  excellence  of  this  work  have  been  received  from  Merchants,  Professors,  Clerks 
and  Teachers,  who  have  adopted  it.  Upwards  of  five  thousand  copies  having  been  sold  in  two  years,  is  pre- 
sumptive evidence  ot  its  wortn. 


THE  FOLLOWING   EXTRACTS   FROM  BOSTON  PAPERS  WILL  SHOW  THE  ESTIMATION   IN  WHICH 
MR.  COMER'S  SERVICES   ARE  HELD. 


"  Mr.  Comer's  Establishment  is  one  of  the  most  ele- 
gant, extensive,  and  appropriately  furnished  and  ar- 
ranged, of  its  kind,  in  the  United  States,  and  probably 
in  the  world.  It  is  the  beau  ideal  of  a  Counting 
Koom.  The  Navigation  department,  under  the  care 
of  the  gifted  Professor,  is  arranged  in  the  best  manner, 
with  all  suitable  instruments,  &c.  for  imparting  a 
thorough  knowledge  of  this  necessary  science.  U'e 
advise  every  mercantile  man  to  call  and  look  at  this 
establishment,  at  least.  They  will  be  sure  to  meet 
with  a  polite  reception  from  the  gentlemanly  princi- 
pal."— Post. 

"  Mr.  Comer  has  added  to  his  elegant  establishment 
a  separate  apartment  for  Ladies,  whom  he  proposes  to 
instruct  so  thoroughly  as  to  enable  them  to  take 
charge  of  the  books  of  any  light  business.  A  know- 
ledge of  accounts  is  as  desirable  for  ladies  as  for  gen- 
tlemen. Every  young  female,  no  matter  what  her 
station  in  life,  would  be  benefited  by  such  informa- 
tion as  Mr.  Comer  proposes  to  impart.  This  is  a  good 
move,  deserving  of  abundant  encouragement." —  Tran- 
script. 

"  NAVIGATION  AND  COMMERCE.  In  a  community  so 
essentially  commercial  as  ours,  a  well-conducted  insti- 
tution, devoted  to  imparting  thorough  knowledge  in 
maritime  and  mercantile  affairs,  is  of  vast  importance. 
Such  an  institution  is  that  of  Mr.  Comer.  As  an  in- 
structor in  Writing  and  Accounts,  he  has  no  superior — 
the  Navigation  department  is  under  the  superintend- 
ence of  an  able  practitioner ;  and  the  Ladies  apartment, 
which  is  entirely  separate,  is  all  that  it  should  be. 
The  whole  establishment  is  an  ornament  and  benefit 
to  the  city  and  deserves  the  extensive  patronage  it 
receives." — Daily  Journal. 

"  In  the  present  state  of  things  the  science  of  Navi- 
gation is  as  important  and  practical  as  it  is  sublime. 
The  art  of  conducting  a  ship  from  port  to  port  over 
the  wide,  watery,  howling  convexity,  is  one  of  the 
most  glorious  achievements  of  the  human  mind.  W« 
were  struck  with  these  thoughts  on  looking  at  our 
friend  George  N.  Comer's  Mercantile  Institute.  He 
has  made  the  best  possible  provision  for  teaching 
Navigation,  having  the  services  of  a  gentleman  whose 
qualifications  are  every  way  faultless,  and  we  wonder 
that  the  enterprising  young  men  of  our  city  do  not  in 
greater  numbers  than  he  cau  accomodate  apply  them- 
selves to  this  important  branch.  It  is  a  branch  which 
any  young  merchant  should  tak*  a  pride  in  adding  to 
his  stock  of  knowledge."—  Traveller. 


"  THE  MODEL  COUNTING  ROOM. — We  yesterday  call- 
ed in  upon  our  friend  COMER,  at  his  Mercantile  and 
Nautical  Institute,  and  were  much  gratified  to  find 
him  so  thoroughly  occupied  with  a  large  number  of 
orderly  and  attentive  students.  Every  thing  about 
his  establishment  seems  to  move  like  clock  work  ;  ev- 
ery thing  done  well  at  the  right  time,  no  disorder  or 
confusion,  but  in  place  of  it  the  most  admirable  regu- 
larity. The  readiness  with  which  our  merchants  em- 
ploy Mr.  Comer's  students,  is  sufficient  evidence  of 
the  esteem  in  which  his  tuition  is  held.  To  have 
been  a  student  with  him,  is  a  passport  into  almost 
any  mercantile  house  in  this  city.  The  Ladies 
should  read  his  card,  and  call  and  see  the  provision 
he  has  made  for  their  accommodation.  Truly,  if  ever 
man  deserved  to  be  patronized,  it  is  Mr.  Comer.  His 
energy  and  perseverance  are  untiring.  Call  and  see 
for  yourselves  ;  you  will  find  his  establishment  all  we 
have  said  of  it,  and,  as  a  model  Counting  Koom, 
acknowledge  it  unrivalled."—  Daily  Mail. 

"  BOOK-KEEPING.  It  is  a  pleasure  to  us  to  call  the 
attention  of  our  readers  to  the  establishment  of  Mr. 
George  N.  Comer,  for  practical  instruction  in  Book 
Keeping.  It  is  a  point  of  the  greatest  importance,  in 
the  education  of  every  man  of  business,  to  know  tlie 
best  way  in  which  books  can  be  kept, — to  bo  able,  in 
fact,  to  keep  and  understand  a  set  of  Books  ;  and  so 
to  do  it,  that  all  other  intelligent  book  keepers  will 
understand  them.  Mr.  Comer  has  himself  been  « 
practical  merchant  and  book  keeper,  and  is  now 
largely  employed  by  our  first  merchants,  to  regulate 
their  books.  This  business  he  is  constantly  doing, 
at  his  ofBce,  in  connection  with  which,  he  has  large, 
elegantly  and  appropriately  furnished  rooms  for  stu- 
dents, whore  they  have  every  facility  for  becoming 
acquainted  with  book-keeping— as  it  is  actually  con- 
ducted by  the  best  clerks  in  the  city.  It  is  like  study- 
ing medicine  in  a  hospital.  The  teachers  of  our  pub- 
lic schools,  who  teach  book-keeping,  find  it  for  their 
interest  to  study  with  Mr.  Comer ;  and  young  men 
who  contemplate  business,  cannot,  probably,  any- 
where find  better  instruction." — Daily  Chronatyjie. 

"  To  Mr.  Comer  belongs  the  merit  of  doini;  away 
with  the  old  'class  system'  ef  instruction  in  Book- 
keeping and  Writing.  Each  of  his  students  has  al- 
ways received  separate  instruction  ;  and  though  many 
have  since  imitated  his  plan  in  their  advertisements.— 
we  fear  the  imitation  ends  there, — Mr.  Comer  was  th« 
first  person  in  the  United  States  to  introduce  this  ira 
proved  method.— Daily  Timet. 


EXTRACTS    FROM    THE    BOSTON    PAPERS. 


"  Mr.  Comer's  name  has  become  so  familiar  to  the 
mercantile  portion  of  our  community,  and  his  excel- 
lent works  upon  book-keeping  are  so  universally  em- 
ployed, that  it  will  be  difficult  for  us  to  say  anything 
of  the  gentleman  which  is  not  already  known  ;  but  we 
may  remind  our  readers  that  his  Institute  is  still  in 
operation,  and  is  receiving,  as  it  richly  merits,  the 
continued  patronage  of  parents  who  wish  their  sons  to 
acquire  a  thorough  knowledge  of  book-keeping  as  well 
as  improvement  in  their  penmanship.  Under  his  tui- 
tion a  young  man  if  already  engaged  in  mercantile 
pursuits,  is  enabled  to  receive  many  invaluable  hints ; 
while  the  inexperienced  youth  lays  the  foundation  of 
a  system  which  increases  with  his  years,  and  renders 
him  not  only  of  great  service  to  others,  but  equally 
well  fitted  to  take  care  of  his  own  affairs.  The  Naviga- 
tion department  is  under  the  supervision  of  a  gentle- 
man whose  attainments  admirably  qualify  him  for  the 
charge,  and  we  are  happy  to  state  that  the  Boston  Insur- 
ance Offices  have,  by  their  influence,  and  aware  ot 
its  importance,  contributed  generously  to  its  mainten- 
ance. A  separate  apartment  is  provided  for  ladies, 
who  will  find  Mr.  Comer,  aside  from  his  abilities  as  a 
teacher,  to  be  a  gentleman  of  most  courteous  man- 
ners."— Evening  Gazette. 

"  Among  the  good  notions  of  this  city?  of  which  we 
have  reason  to  be  proud,  is  the  Mercantile  Institution 
of  Mr.  Comer,  in  which  most  thorough  and  excellent 
provision  is  made  for  teaching  ladies  all  the  mysteries 
of  account  keeping.  A  separate  and  elegant  apartment 
is  provided  for  them,  and  they  enjoy  the  same  able 
and  thorough  instruction  which  Mr.  C.  bestows  upon 
his  male  pupils.  Here  is  a  chance,  girls,  if  you  wish 
to  enjoy  the  delicious  feeling  of  independence.  A  little 
money  and  time,  will  put  you  in  possession  of  the  key 
of  comparative  wealth,  and  we  will  answer  for  it, 
that  your  prospects  and  enjoyments  in  the  various 
interesting  relations  of  life  to  which  you  are  destined, 
will  not  be  clouded  or  injured  by  that" — Rambler. 


"  We  have  frequently  taken  occasion  to  speak  favor 
ably  of  Mr.  Comer's  effective  mode  of  communicating 
instruction  in  writing,  book-keeping,  &c.,  and,  in 
again  directing  attention  to  the  subject,  we  feel  that  we 
can,  with  the  confidence  which  the  long  tamiliarrcy 
with  that  gentleman's  admirable  system  inspires,  re- 
commend his  establishment  to  the  serious  considera- 
tion of  those  who  must  inevitably  suffer,  in  an  active 
commercial  community  like  ours,  from  a  deficiency  in 
the  all-important  requisites  taught  by  Mr.  Comer. — 
Massachusetts  Ploughman. 

u  It  is  with  great  pleasure  that  we  call  attention  to 
the  Mercantile  Institute  of  Mr.  Comer,  where  every 
branch  necessary  for  an  accomplished  merchant  has 
been  for  a  long  time  successfully  taught.  Many  of 
our  most  practical  clerks,  who  are  now  enjoying  situa- 
tions of  great  value,  owe  their  first  start  in  life  to  the 
skill  and  genius  of  Mr  Comer." — Bee. 

11 A  GOOD  IDEA..— Mr.  Comer  proposes  to  teach  La- 
dies in  the  art  of  keeping  accounts  ;  in  other  words,  to 
qualify  them  to  keep  books.  As  a  general  thing,  we 
have  no  doubt  women  would  make  better  accountants 
than  men.  And  why  should  they  not  be  so  employ- 
ed ?  The  shutting  of  the  female  sex  out  from  honor- 
able and  profitable  employments,  is  the  cause  of  cor- 
rupting both  sexes." — Chronotype 

"  The  character  of  the  information  imparted  at  this 
establishment,  is  essentially  utilitarian." —  Courier. 

"  We  commend  this  as  being  one  of  the  most  vaj 
uable  institutions  of  the  kind  in  the  country.  Mr.  Co 
mer  is  a  thorough  business  man  ;  with  the  education 
and  deportment  of  a  gentleman,  and  a  facility  of  im- 
parting information  which  is  highly  appreciated.  Th« 
number  of  his  former  students  now  filling  responsible 
situations  in  the  city,  procured  on  his  recommenda- 
tion, is  conclusive  evidence  of  the  usefulness  of  this 
establishment." — Daily  Evening  Transcript. 


RULES    AND    REGULATIONS 

TO  BE  OBSERVED  BY  THE  STUDENTS  AT 


AND    NAUTICAL    INSTITUTE. 


I.    No  student  is  permitted  to  open  any  drawer,  but 
the  one  allotted  to  him,  under  any  circumstances. 

f  II.  No  Student  is  permitted  to  remain  in  the  Room 
unless  engaged,  at  the  time,  upon  the  study  for  which 
he  entered. 

in.    Students  are  not  permitted  to  take  Strangers 
into  the  large  Room. 

IV.  No  student  is  permitted  to  carry  out  of  the 
Room  any  article  belonging  to  the  establishment. 

V.  No  Student  is  permitted  to  injure,  or  deface,  the 
Stationery,  Furniture,  or  Apparatus,  of  the  establish- 
ment. 

VI.  When  a  Student  requires  information  in  regard 
to  his  studies,  he  is  expected  to  apply  to  the  Princi- 


pal, or  his  Assistant,  and  not  to  the  other  Students. 
It  is  intended  that  each  Student  shall  be  strictly  Iff 
himself. 

VII.  No  loud  talking,  laughing,  or  other  improper 
noise  —  grimacing  or  gesticulating  —  lounging  or  col- 
lecting in  groups  —  is  permitted. 

VIII.  No  spitting  on  the  floor,  walls,  or  furniture 
allowed.    Students  using  Tobacco,  and  those  having 
occasion  to  spit,  must  provide  themselves  with  pocket 
handkerchiefs  to  spit  into.    If  young  men  have  to 
carry  about  tbem  the  unnecessary  filth  they  create,  it 
may  help  to  abolish  a  vile  habit. 

Any  violation  of  any  of  the  foregoing  Rules  and 
Regulations,  will  subject  the  violator  to  immediate 
expulsion,  at  the  discretion  of  the  Principal. 


HOURS    FOR    STUDENTS. 

WINTER  TERM. 

1st  of  September  to  1st  of  May  —  from  9,  A.M.,  until 
1,  P.M. ;  from  3,  P.M.,  until  5,  P.M. ;  and  from  7  la 
the  evening  until  9. 

On  Saturdays,  the  Office  will  be  closed  at  5  o'clock,  P.M.,  throughout  the  year. 


OFFICE 

SUMMER  TERM. 

1st  of  May  to  1st  of  September  —  from  9,  A.M.,  until 
1,  fM. ;  from  3,  P.M.,  until  7,  P.M. 


IATOA 


'    No.  139  WASHINGTON,  (Corner  of  School  Street,)  BOSTON, 
IS  OPEN  DAY  &  EVENING,  FOR  IMPARTING  INSTRUCTION  IN 

NAVIGATION, 

BY  ALL  THE  BEST  AND  MOST  APPROVED  MODERN  METHODS. 

The  Lunar  Observations,  Great  Circle  Sailing,  Sumner's  Method,  and  every  branch  neces- 
sary for  an  accomplished  Navigator,  taught  thoroughly. 


ARE  PROVIDED  AND  EXPLAINED. 


A  Course  of  Instruction  in  Common  Navigation,  by  the  most  approved 

modern  methods, $10  00 

A  Course  of  Instruction  in  the  Lunar  Observations, 12  00 

Where  both  of  the  above  are  taken  together, 20  00 

Great  Circle  Sailing,  and  Sumner's  Method 12  00 

A  complete  Course  of  Instruction,  which  embraces  all  the  foregoing,  to- 
gether with  a  portion  of  Algebra,  Geometry,  Plane  and  Spherical 
Trigonometry,  Simple  and  Quadratic  Equations 30  00 


Persons,  already  competent,  may  receive  certificates  of  their  qualifications  as  Navi- 
gators, upon  presenting  themselves  for  examination  at  this  Institute,  which  is  under 
the  direct  patronage  of  the  Marine  Insurance  Companies  and  the  Merchant  Ship-owneri 
of  Boston. 


PAYMENT  IN  ALL  CASES  IN  ADVANCE.    ENTIRE  SATISFACTION  GUARANTIED  OR  IBM 

MONET  REFUNDED. 


;K^-.V./!. 


/v 


/ 


RECOMMENDATIONS. 


From  the  Principal  of  the  Hopkins'  School,  Cambridge. 

26-TH  JANUAET,  1847. 
DEAR  SIR, 

It  gives  me  much  pleasure  to  know  that  the  demand  for  your  excellent  work  oa 
Book-keeping  has  been  such  as  to  require  another  edition. 

I  have  given  instruction  in  Book-keeping  for  many  years,  and  have  availed 
myself  of  a  variety  of  text-books,  but  none  have  ever  given  me  such  satisfaction 
as  yours.  You  have  been  signally  successful  in  making  plain  to  the  comprehen- 
sion of  the  pupil  every  difficult  principle  of  the  science.  Tn  t^noo  *0«.«i «-- 


RECOMMENDATIONS. 


Frem  the  Principal  of  the  Hopkins?  School,  Cambridge. 

26TH  JANUARY,  1847. 
DEAR  SIR, 

It  gives  me  much  pleasure  to  know  that  the  demand  for  your  excellent  work  oa 
Book-keeping  has  been  such  as  to  require  another  edition. 

I  have  given  instruction  in  Book-keeping  for  many  years,  and  have  availed 
myself  of  a  variety  of  text-books,  but  none  have  ever  given  me  such  satisfaction 
as  yours.  You  have  been  signally  successful  in  making  plain  to  the  comprehen- 
sion of  the  pupil  every  difficult  principle  of  the  science.  To  those  teachers  who, 
like  myself,  are  obliged  to  give  instruction  in  many  different  branches,  it  will  prove 
a  great  acquisition.  The  most  ordinary  capacity,  with  a  few  words  of  explanation 
from  the  teacher,  cannot  fail  to  understand  it.  I  have  at  present  a  class  using  it  as 
a  text-book,  and  although  I  know  of  nothing  in  the  class  to  rank  it  in  capacity 
above  other  classes  which  I  have  had,  yet  their  progress  in  a  knowledge  of  the 
principles  is  beyond  comparison  greater  than  I  have  ever  witnessed  before. 
I  have  no  doubt  that  when  known,  it  will  be  generally  adopted  as  a  text-book. 
With  best  wishes  for  your  success, 

I  remain  your  obt.  servt. 

E.  B.  WHITMAN. 
GBO.  N.  COMER,  Esq. 

Gao.  N.  COMER,  Esq. 

DEAR  SIR,  —  I  have  examined  your  work  on  Book-keeping  with  much  satisfac- 
tion. The  plan  and  execution  seem  to  be  equally  excellent.  It  is  very  far  from 
being  a  compilation  of  crude  theoretical  notions,  as  is  too  often  the  case  with  books 
designed  for  elementary  instruction;  it  is  evidently  a  well-digested,  practical 
treatise,  and  such  an  one  as  might  be  expected  from  an  able,  practical  accountant. 

The  chief  peculiarity  of  your  method,  which  consists  in  "  posting  directly  from 
the  original  entry  to  the  debit  and  credit  of  the  corresponding  accounts  in  the 
Ledger,"  instead  of  using  the  Journal,  strikes  me  very  favorably ;  and  I  cannot; 
but  persuade  myself,  that  it  is  not  merely  an  innovation,  but  a  real  improvement 
upon  the  old  plan. 

Your  most  obedient  and  humble  servant, 

JOHN  D.  PHILBRICK. 

MAYHEW  SCHOOL,  BOSTON,  MARCH  17,  1847. 

Mr.  George  N.  Comer  has  kept  the  books  of  our  firm,  doing  a  business  of  np 
wards  of  fifty  thaisand  dollars  per  annum,  by  yearly  contract,  for  four  years  past, 
•pon  the  plan  recommended  in  this  work,  with  perfect  accuracy  and  satisfaction. 

THOS.  L.  RAYNER  &  CO 

BOSTON,  SEPTEMBER  13,  1847. 


RECOMMENDATIONS. 


From  Professor  Tatlock,  Williams'  College,  Mass. 

26TH  JANUARY,  1847, 
Di  AK  SIR, 

1  have  examined  your  work  on  Book-keeping,  and  am  much  pleased  with  it.  1 
think  the  merchants  and  their  book-keepers  ought  to  give  you  a  pension  for  teaching 
them  how  to  dispense  with  half  the  labor  of  keeping  their  books. 

I  am  glad  that  you  have  made  the  subject  so  simple  and  so  plain.  It  has  been 
usually  treated  with  so  much  mysticism  that  it  looked,  to  a  novice,  very  much  like 
the  hocus  pocus  of  the  conjurer.  I  think  it  decidedly  superior  to  any  other  work 
on  the  subject  with  which  I  am  acquainted,  and  trust  that  every  young  man  who 
intends  to  devote  himself  to  the  honorable  and  responsible  duties  of  a  book-keeper 
will  profit  by  your  treatise  on  the  subject. 

\ours  truly, 
G.  N.  COMER,  Esq  TOHN  TATLOCK. 


Mr.  George  N.  Comer  has  kept  my  books,  by  yearly  contract,  upon  the  prin- 
ciple recommended  in  his  work,  for  upwards  of  two  years,  with  the  most  entire 
satisfaction. 

L.  B.  BROOKS, 

BOSTON,  MARCH  3,  1846.  57  Washington  Street. 

BOSTON,  MAY,  1846. 
MR.  GEORGE  N.  COMER, 

DEAR  SIR,  —  I  have  examined  the  work  on  Book-keeping,  compiled  and 
arranged  by  yourself,  and  it  gives  me  pleasure  to  inform  you  of  the  high  opinion  I 
entertain  of  it. 

The  evident  uselessness  of  the  Journal,  so  universally  used,  and  so  justly  dis- 
claimed in  your  work,  constitutes,  in  my  estimation,  one  of  the  principal  features 
of  its  excellence.  And  while  the  arrangement  is  concise,  avoiding  every  prolonged 
and  unnecessary  detail,  it  is  at  the  same  time  so  complete  in  its  definitions  and 
explanations  as  to  convey  a  clear  and  perfect  idea  of  the  matter  contained. 
I  trust  it  will  receive  all  the  notice  which  so  valuable  a  work  may  justly  claim. 

Very  truly, 

WM.  M.  WALLACE, 
Book-keeper  at  Charles  Stoddard  &  J.  S.  Lovering's,  Milk  Street 


BOSTON,  JAN.  23,  1847. 
DEAR  SIR, 

I  have  just  heard  that  a  new  issue  of  your  popular  work  on  Book-keeping  is 
called  for.  If — besides  this  much-admired  and  well-condensed  treatise  —  any 
desired  other  evidence  of  your  mastery  of  the  important  art  of  a  simple  method  of 
Double  Entry,  adapted  to  all  varieties  of  business,  it  is  ^uite  sufficient  to  point 
such  to  the  numerous  practical  accountants  —  graduates  from  your  teaching  —  who 
are  holding  places  of  responsibility  in  our  city,  and  elsewhere. 

I  trust  that  your  labors  may  become  even  more  extensively  appreciated,  and 
remain, 

Truly  yours,  &c., 
MB    G.  N.  COMER,  CHAS.  A.  ELLIOT. 


Having  taken  lessons  of  Mr.  George  N.  Comer,  Accountant,  No.  17  State  Street, 
1  think  his  method  of  teaching  and  system  of  Book-keeping  the  best  I  have  ever 
seen. 

JOHN  P.  ROGERS, 

Book-keeper  for  Wm.  T.  Eustis  &  Co.,  Pearl  Street 
BOSTON,  MARCH,  1846. 


RECOMMENDATIONS.  Hi 

WALTHAM,  JAN.  9,  1847. 
DEAR  SIR, 

After  a  careful  inspection  of  your  work  on  Book-keeping,  and  after  having 
made  use  of  it  in  my  school,  I  am  happy  to  say  I  consider  it  decidedly  preferable 
to  any  work  of  the  kind  with  which  I  am  acquainted. 

Very  truly  yours, 
MR.  COMER.  DANIEL  FRENCH. 

WILLIAM  R.  NOTES,  Esq.,  Teacher  of  the  Commercial  Academy  at  New  Bed- 
ford, in  a  letter  to  Mr.  Gray  says,  "  You  may  say  to  Mr.  Comer  that  I  was  the  first 
to  introduce  the  work  in  this  place,  affd  shall  endeavor  to  bring  it  into  general  use, 
as  I  consider  it  a  work  of  great  merit." 

BOSTON,  9th  SEPTEMBER,  1847. 
GEO.  N.  COMER,  Esq. 

DEAR  SIR,  —  I  am  advised  that  your  admirable  system  of  Book-keeping  has 
reached  its  third  edition ;  a  sufficient  evidence  of  its  value  and  the  public  favor 
bestowed  upon  it.  Being  familiar  with  its  principles,  I  take  pleasure  in  adding  my 
humble  testimony  to  its  superior  merits. 

Very  respectfully  yours, 

C.  CANTERBURY, 
Book-keeper  for  Messrs.  J.  W.  Blodgett  &  Co.,  Pearl  Street. 

BOSTON,  8th  SEPTEMBER,  1847. 
DEAR  SIR, 

I  have  used  your  treatise  on  Book-keeping  as  a  text-book  in  school,  and  am  hap- 
py to  state  that  it  meets  my  unqualified  approval.  Believing  it  to  be  a  work  of 
such  excellence  that  it  needs  only  be  examined  to  be  approved,  I  cheerfully  re- 
commend it  to  the  favorable  notice  of  Teachers  and  School  Committees. 

With  much  respect, 
GEO.  N.  COMER,  Esq.  G.  S.  WESTON. 

ISAAC  F.  SHEPARD,  Esq.,  Teacher  of  the  Otis  School,  and  Editor  of  the  Boston 
Daily  Bee,  says,  "  I  believe  it  to  be  the  best  system  I  ever  saw.  It  deserves  the 
attention  of  all  who  keep  accounts,  and  every  man  that  disburses  a  dollar  ought 
to  do  so." 

BOSTON,  MARCH  3d,  1847. 
MR.  GEORGE  N.  COMER. 

DEAR  SIR,  —  Upon  leaving  your  Institute,  of  which  I  have  been  a  student,  it 
gives  me  pleasure  to  express  my  approbation  of  your  method  of  teaching  Double 
Entry  Book-keeping,  which  appears  to  me  to  be  the  best  now  in  use. 

Yours  truly, 

CHAS.  M.  STIMPSON, 
Book-keeper  for  E.  F.  Follensbee,  No.  4  Kilby  Street. 

Having  been  a  student  in  the  office  of  Mr.  George  N.  Comer,  I  regard  the  sys 
tern  taught  by  him  as  preferable  to  all  others,  being  at  once  simple  and  compre- 
hensive, enabling  the  student  to  take  charge  of  a  set  of  Books  with  confidence  ami 
ability.  AUGUSTUS  STYLES, 

Book-keeper  for  Fishers  &  Baldwin,  Boston. 


OPINIONS    OF    THE    PRESS. 

"  The  value  of  this  book  consists  in  its  clearness,  the  ease  with  which  the  prin- 
ciples and  practice  of  the  art  may  be  learned  from  it  by  the  new-beginner,  and  the 
adaptation  of  its  method  to  the  most  extensive  wholesale  or  the  smallest  retail 
business.  The  volume  should  be  in  the  store  of  every  business  man."  —  Boston 
Courier. 

"  One  of  the  most  simple  and  intelligible  treatises  on  Book-keeping  that  we  have 


IT  RECOMMENDATIONS 

ever  seen.  It  is  the  first  publication,  we  believe,  which  omits  the  useless  *  Journal/ 
though  that  book  has  been  thrown  aside  in  many  of  our  mercantile  houses  for 
years  past."  —  Boston  Post. 

l(  A  work  of  extraordinary  merit,  and  for  which  we  predict  an  immense  popu- 
larity. The  whole  matter  is  here  divested  of  the  ambiguity  and  superfluity  of 
detail  which  have  characterized  works  of  this  nature,  and  is  explained  in  such  an 
easy,  concise,  and  intelligible  manner,  as  cannot  fail  to  be  understood,  and  prove  a 
valuable  acquisition  to  the  school-room  and  the  counting-house."  —  Boston  Daily 
Transcript. 

11  A  good  treatise  on  so  important  a  science  as  Book-keeping  is  always  worthy 
of  attention  from  the  public,  particularly  that  portion  of  it  to  whom  this  subject  is 
of  special  interest.  The  title-page  of  Mr.  Comer's  work  sets  forth  that  his  method 
is  '  a  simple  one  by  Double  Entry,  without  the  formula  or  trouble  of  the  journal, 
adapted  to  the  most  extensive  wholesale  or  the  smallest  retail  business,  to  which 
is  added  a  number  of  the  most  rapid  and  accurate  methods  of  making  commercial 
calculations.'  After  a  thorough  examination  of  the  work  we  have  no  hesitation  in 
saying  this  is  a  true  statement.  It  is  a  concise,  accurate,  and  time-saving  plan, 
commending  itself  to  the  general  use  of  mercantile  men."  —  Boston  Atlas. 

"  We  are  highly  pleased  with  this  short  and  simple  treatise  on  Book-keeping. 
It  is  intelligible,  and  wholly  practical.  Nothing  necessary  to  a  perfect  system 
.seems  to  be  omitted,  and  nothing  unnecessary  and  onerous  introduced.  That 
another  edition  was  demanded,  is  one  of  the  best  commendations  of  such  a  work." 
—  New  England  Puritan. 

"This  system  of  Book-keeping  is  practised  in  all  extensive  mercantile  establish- 
ments, and  by  it  governments  keep  their  accounts.  Mr.  C.'s  volume  bears  the 
mark  of  an  intelligent  and  accurate  mind,  and  is  well  worthy  the  attention  of  all 
whose  business  requires  them  to  attend  to  the  financial  details  of  trade."  —  Bos- 
ton Recorder. 

"  We  gladly  hail  this  new  and  simple  method  of  Book-keeping,  in  place  of  the 
older  and  more  difficult  one.  We  refer  the  inquirer  to  the  many  practical  testi- 
monials in  its  favor,  from  among  our  first  merchants  ;  and  also  to  the  skilful  in- 
struction afforded  by  the  author,  in  the  various  branches  of  his  profession."  — 
Christian  Watchman. 

'•'  One  of  the  most  lucid  and  concise  works  on  Book-keeping  that  has  ever  been 
issued  from  the  press.  As  an  evidence  of  the  usefulness  of  this  work,  it  may  be 
slated  that  upwards  of  two  hundred  mercantile  firms  have  adopted  the  method  in 
their  respective  establishments  in  the  short  space  of  o.ne  year  since  its  first  publi- 
cation." —  Boston  Daily  Mail. 

"Mr.  Comer's  system  of  Double  Entry  is  ably  presented.  We  think  his  volume 
will  take  precedence  of  our  other  text-books  on  the  subject."  —  Ziorfs  Herald. 

"  The  most  concise,  common-sense  treatise  upon  Double  Entry  that  we  have  evei 
seen.  It  is  written  in  a  plain,  vigorous  style,  easy  of  comprehension  and  adapta- 
tion. The  method  of  dispensing  with  the  <  Journal,'  thus  saving  one  half  the  labor 
of  the  old  system,  is  admirable."  —  Boston  Traveller. 

'•'  This  is  one  of  the  (if  not  the)  best  things  of  the  kind  ever  published."  —  Bos> 
i:n  Daily  Eagle. 

"We  have  no  doubt  that  the  system  introduced  by  Mr.  Comer  will  meet  with 
r^ry  general  favor  and  support  from  the  business  public."  —  Boston  Daily  Journal 

"  A  concise,  complete,  and  labor-saving  system."  —  Boston  Cultivator. 

"A  useful  and  va  uable  work."  —  Boston  Times. 

"  So  far  as  our  limited  knowledge  of  Book-keeping  enables  us  to  judge,  we  re- 
gard this  work  as  a  decided  improvement  on  all  previous  systems.  It  certainly 
simplifies  a  somewhat  difficult  art,  and  makes  it  easy  to  be  acquired ;  and  we  sec 
no  reason  why  it  is  not,  as  the  title-page  affirms,  adapted  to  any  extent  of  busir 
ness."  —  Christian  Alliance  and  Family  Visitor. 

"  Mr.  Comer  is  famous  in  his  profession,  and  many  merchants  of  distinction 
have  adopted  his  plan."  —  Boston  Olive  Branch. 


SIMPLE    METHOD 


OF 


KEEPING    BOOKS, 

SY  TOTOLE-MWEY, 

WITHOUT   THE   FORMULA   OK   TROUBLE  OF 

THE  JOURNAL 


ADAPTED    TO 

THE  MOST  EXTENSIVE  WHOLESALE,  OE  THE 
SMALLEST  RETAIL  BUSINESS. 

TO    WHICH    IS    ADDED 

A  NUMBER  OF  THE  MOST  RAPID  AND  ACCURATE  METHODS 
OF  MAKING  COMMERCIAL  CALCULATIONS. 


BY 

GEORGE   N.   COMER, 

ACCOUNTANT. 


SIXTH     EDITION. 

BOSTON: 

TAPPAN,   WHITTEMORE,   &    MASON 
1850. 


Entered  according  to  Act  ot  Congress,  in  the  year  1846,  by 

GEORGE    N.   COMER, 
In  the  Clerk's  Office  of  the  District  Court  of  Massachusetts. 


Stereotyped    by 

GEORGE   \.  CURTIS; 

NEW  ENGLAND  TVPB  AND  8TEUEOTYPK  FOUNDRY 
BOSTON. 


C&5" 

/a  s-o 


TO  THE 


MERCHANTS 


OF 


(Q)  SIP  (DM 


THIS  WORK  IS   MOST  RESPECTFULLY 
DEDIC  ATED. 


MS83918 


PREFACE. 

THE  compiler  of  this  work  commenced  his  undertaking,  in  the 
belief  that  a  plain,  simple  treatise  on  Book-keeping,  written  by  a 
practical  Merchant,  and  divested  of  the  mysticism  and  verbosity 
which  it  has  hitherto  been  the  interest,  or  the  pleasure,  of  writers 
on  this  subject  to  throw  around  their  productions,  would  meet 
with  the  approbation  of  the  Mercantile  community;  and  he  was 
strengthened  in  this  belief  by  the  expressed  opinion  of  the  cele- 
brated J.  R.  McCulloch  and  other  distinguished  authorities ;  and, 
encouraged  by  the  patronage  of  some  of  the  most  eminent  Mer- 
chants of  this  City,  he  has  prosecuted  this  enterprise  to  maturity, 
$nd  now  sends  it  forth  "  to  grace  a  counting-room  or  adorn  a 
trunk,"  as  its  merits,  faults  or  fate  may  destine. 

He  does  not  lay  the  slightest  claim  tc  literary  pretension,  and 
therefore  expects  to  escape  literary  criticism ;  and  when  he  states, 
that  this  entire  work  has  been  compiled  after  the  hour  of  nine 
o'clock  at  night,  the  arduous  nature  of  his  daily  avocations 
affording  him  no  other  leisure,  he  hopes  that  unintentional  errors, 
if  any,  will  be  passed  lightly  over. 

17  State  Street,  Boston.  ) 
1st  January,  1846.      j 


CONTENTS. 


Definition, ,  .        ....         7 

Introduction, .  8 

Rules, 16 

Day  Book,  or  Book  of  Original  Entry, 13 

Cash  Book,  or  Book  of  Original  Entry  for  Cash  Transactions,      .       ..       .       27 

Ledger, 35 

Trial  Balances, 49 

Quarterly  Account  of  Balances, 54 

Report, 55 

Bill  Books, 57 

Explanation  of  Day  Book  Entries  with  Directions  for  Posting,      ...       59 
Explanation  ef  Cash  Book  Entries  with  Directions  for  Posting,         .  .    62 

Explanation  of  Trial  Balances, 63 

Upon  Closing  the  Ledger, .       .       .    67 

Four  of  the  most  approved  forms  of  keeping  Journals, 69 

Copartnership  Books, 83 

Form  of  an  Invoice, 87 

H     ii  Bills, 87 

H     i,  Account  Sales, 88 

H     ii  an  Account  Current,  without  interest, 88 

*     it   it  Account  Current,  with  interest,  ....•••89 

M     ii   ii  English  Account  Current,  with  interest, 90 

COMMERCIAL  CALCULATIONS  : 

Interest, .        .        .        .        .        ...92 

Discount, 96 

Premium,          ...  97 

Exchange, 97 

Chain-Rule, 99 

Equation  of  Payments, .        .        . 100 

Compound  Equation, 101 

Equation  of  Dividends,          .  102 

»       applied  to  the  Storage  of  property, ,.102 

Measurements, 103 


DEFINITION. 

BOOK-KEEPING,  the  art  of  keeping-  the  accounts  and  books  of  a  mei- 
chant.  Book-keeping  by  double  entry  means  that  mode  or  system  in 
which  every  entry  is  double ;  that  is,  has  both  a  debtor  and  a  creditor. 
It  is  called  also  the  Italian  method,  because  it  was  first  practised  in 
Venice,  Genoa,  and  other  towns  in  Italy,  where  trade  was  conducted  on 
an  extensive  scale  at  a  much  earlier  date  than  in  England,  France,  or 
other  parts  of  Europe.  This  method,  however  familiar  to  merchants  and 
book-keepers,  seems  intricate  to  almost  all  who  have  not  practised  it ; 
nor  is  the  dryness  and  difficulty  of  the  task  much  lessened  by  the 
printed  works  on  the  subject,  which,  having  been  compiled  more  by 
teachers  than  by  practical  merchants,  contain  a  number  of  obsolete  rules 
and  unnecessary  details. — McCulloch's  Dictionary  of  Commerce. 

BOOK-KEEPING  is  the  art  of  recording  financial  facts  in  a  lucid  and  sys- 
.ematic  manner.  The  only  method  of  book-keeping  founded  upon 
general  principles  is  the  Italian,  or,  as  it  is  more  commonly  called,  the 
double-entry  system,  from  its  being  based  on  the  principle,  that  every 
transaction  in  business  is  virtually  a  transfer  between  two  accounts,  and 
so  must  be  entered  to  the  debit  of  the  one,  and  the  credit  of  the  other.— 
Cyclopedia  of  Commerce,  by  W.  Waterston,  Esq. 

BOOK-KEEPING  BY  DOUBLE  ENTRY. — Of  the  efficiency  of  this  system, 
the  trading  world  in  its  infinite  variety  of  commerce  and  concerns  gives 
unanimous  evidence.  Into  every  well  regulated  manufactory, — into 
every  extensive  mercantile  establishment  in  every  part  of  the  civilized 
world, — it  has  gradually,  but  peremptorily,  forced  its  way ;  and  in  this 
country  is  finding  its  way  into  mercantile  establishments  of  humbler 
grades. 

The  revenues  of  no  government  have  been  safely  administered — the 
accounts  of  no  government  have  been  intelligibly  kept — the  business  of 
no  government  has  been  promptly  and  satisfactorily  despatched — until  the 
commercial  system  has  been  introduced  with  its  order  and  uniformity 
into  the  different  departments. — Parliamentary  Report  on  Excise  Ac- 
counts, 1S34. 


INTRODUCTION. 


I  AM  aware  that  it  is  a  bold  undertaking,  to  attempt  to  convince  mer 
of  experience  and  enterprise,  Merchants,  whose  "  sails  whiten  every  sea," 
that,  the  JOUENAL,  which  they  have  hitherto  considered  an  indispensable 
element  in  their  Book-keeping,  is  an  entirely  useless  book,  occasioning  a 
vast  amount  of  unnecessary  labor  and  consequent  waste  of  valuable 
time  ;  but,  regardless  of  the  prejudices  to  be  overcome,  I  commence  with 
the  hypothesis,  that,  the  Journal  is  an  unnecessary  book,  possessing  no 
advantages  which  are  not  equally  obtained  without  it,  and  that  it  should 
be  discarded  by  every  intelligent  merchant,  and  of  this,  I  intend  to  con- 
vince all  those  who  will  give  this  work  that  candid  consideration  the 
subject  merits. 

I  will  merely  premise,  that  this  is  no  untried  theory,  but  one,  which, 
in  my  capacity  of  an  Accountant,  I  have  put  into  actual  practice,  in  vari- 
ous mercantile  establishments  of  considerable  extent,  for  some  years  past, 
with  entire  success. 

It  wouid  be  useless  to  repeat  the  many  stereotyped  reasons  for  keeping 
the  Journal,  advanced  by  those  who,  having  been  so  long  accustomed  to 
the  one  well-beaten  path,  feel  no  inclination  to  try  a  shorter  cut ;  but  I 
cannot  refrain  from  mentioning  an  observation  made  to  me  by  a  gentle- 
man of  this  city  who,  being  an  accomplished  accountant,  commands  a 
high  salary ;  after  a  very  long  argument  and  some  time  for  reflection, 
he  finally  admitted  the  correctness  of  my  views  about  discarding  the 
Journal,  but,  "  declined  introducing  this  method  into  the  establishment 
in  which  he  was  engaged,  as  by  so  doing,  half  his  time  would  be  unoccu- 
pied, and  perhaps  his  services  might  not  be  considered  of  so  much 
importance."  This  is  just  the  fact,  and  more  conclusive  evidence  could 
not  be  given. 

It  is  an  indisputable  fact  that  the  original  entry,  no  matter  in  what  book 
it  is  written  or  however  badly  it  is  made,  is  the  only  record  possessing 
any  value  whatever  in  a  legal  point  of  view  ;  and  I  contend  that  a  trans- 
fer of  these  entries  into  an  intermediate  book  before  posting  to  the  Ledger 
is  a  superfluity  that  may  well  be  dispensed  with.  My  method  is  to  pest 
directly  from  the  original  entry,  to  the  debit  and  credit  of  the  correspond- 
ing accounts  in  the  Ledger,  and  this  it  will  be  found  can  be  accomplished 
as  correctly  and  conveniently,  and  with  as  few  entries  in  the  Ledger,  as 
though  a  Journal  had  been  used,  and  this  without  any  alteration  of,  or 
additional  skill  in,  making  the  entry. 

The  titles  of  the  books  to  be  used  vary  according  to  circumstances  and 
the  nature  of  the  business.  A  House  doing  a  large  Commission  business 
only,  would  have  no  necessity  for  a  DAY  BOOK,  but  would  require  a 
CASH  BOOK,  in  which  all  sums  received  and  paid  are  first  entered,  and 
from  thence  posted  to  their  appropriate  accounts  in  the  LEDGER.  A 
SALES  BOOK  in  which  is  entered  all  sales  as  effected,  and  from  thence 

8 


INTRODUCTION. 

posted  to  the  corresponding  accounts  in  the  Ledger.  A  BILLS  RECEIV- 
ABLE BOOK  and  a  BILLS  PAYABLE  BOOK,  in  which  all  notes  received  and 
given  arc  entered  at  the  time,  and  from  thence  posted  to  the  correspond- 
ing accounts  on  the  Ledger.  A  CHECK  BOOK,  or  CHECK  BOOKS  if  dealing 
with  more  than  one  Bank,  in  which  an  entry  of  all  amounts  withdrawn, 
and  for  what  purpose,  is  made  and  from  thence  posted  to  the  correspond- 
ing accounts  in  the  Ledger ;  and  any  other  books  which,  from  the  nature 
of  the  case,  may  he  found  necessary  to  facilitate  the  operations  of  the 
establishment. 

In  the  set  of  books  which  I  have  introduced  to  illustrate  my  method, 
business  is  done  both  on  personal  account  and  on  commission  and  in 
partnership,  and  the  only  books  used  are,  A  DAY  BOOK  or  book  of  ORIGI- 
NAL ENTRY,  in  which  all  transactions  (excepting  cash)  are  recorded  as 
they  occur,  and  from  thence  are  posted  to  the  corresponding  accounts  on 
the  Ledger.  A  CASH  BOOK,  in  which  is  entered  all  cash  received  and 
paid,  and  from  thence  posted  to  the  Ledger.  AN  INVOICE  BOOK,  BILLS 
RECEIVABLE  and  PAYABLE  BOOKS,  each  used  as  memorandum  books,  but 
:~L  an  establishment  where  the  note  transactions  are  extensive,  they 
should  be  entered  in  the  Bill  Books  as  received  and  paid,  and  from 
thence  transferred  to  the  Ledger,  without  any  intermediate  entry.  Other 
books  may  be  introduced  according  to  the  nature  of  the  business,  but 
every  book  in  which  is  inserted  anything  which  is  to  appear  on  the 
Ledger,  should  be  the  book  of  original  entry  for  that  transaction,  and  be 
transferred  directly  from  that  book  to  the  Ledger. 


UNIVERSAL  LAW  OF  BOOK-KEEPING. 

Every  DEBIT  must  have  an  equal  CREDIT  ; 
And  every  CREDIT  au  equal  DEB  T. 

RULES: 

1.  THE  MERCHANT  is  CREDITED  for  the  amount  of  property  he  puts 
into  the  business;  and  each  item  of  that  property  is  DEBITED  for  its 
respective  amount  or  value. 

Illustration. — If  the  Merchant  puts  into  business.  Cash  $1000,  and  Merchandise 
$1000.  He  would  receive  credit  for  $2000,  and  Cash  and  Merchandise  would  be 
debited  for  81000  each. 

2.  The  MERCHANT  is  DEBITED  for  the  amount  of  his  indebtedness ; 
and  the  parties  to  whom  he  is  indebted,  are  CREDITED  for  their  respective 
amounts. 

Illustration. — If  the  Merchant  owed  to  C  $50}  and  to  D  $500,  the  Merchant 
would  be  debited  for  the  total  amount  $100  j,  and  C  and  D  would  be  creditec  for 
8500  each. 

3.  Whatever  is  RECEIVED,  or  the  RECEIVER  is  DEBTOR  ;   Whatever 
is  DELIVERED,  or  the  DELIVERER  is  CREDITOR. 

Frustration. — If  the  Merchant  ouys  of  B  a  parcel  of  land  for  $2000,  and  pays 
him  in  cash  $1000,  and  by  his  note  at  bO  days  $1000  :  Real  Estate,  the  thing  re- 
ceived, is  debited  $2000.  Cash  and  Bills  Payable,  the  things  delivered,  are  credited 
for  $1000  each.  Again,  if  the  Merchant  sells  to  B  upon  book  account  an  invoice 
of  Merchandise  amounting  to  $500,  B,  the  receiver,  is  debtor  $500,  and  Merchan- 
dise, the  thing  delivered,  is  creditor  $500.  If  afterwards  B  pays  Cash  $500,  Cash, 
the  thing  received,  is  debtor  $500,  and  B,  the  deliverer,  is  creditor  $500. 

4.  PROFIT  AND  Loss  is  CREDITED  for  all  profits ;  and  each  account  upon 
which  profit  has  arisen,  is  DEBITED  for  its  respective  amount  of  profit. 

Illustration. — If  the  Merchant  has  Bank  Stock  which  cost  him  $500,  and  should 
sell  it  for  $550,  Bank  Stock,  the  account  upon  which  profit  has  arisen,  is  debited 
$50,  and  Profit  and  Loss  is  credited  for  the  gain  $50. 

5.  PROFIT  AND  Loss  is  DEBITED  for  all  losses ;  and  each  account  upon 
which  loss  has  arisen,  is  CREDITED  for  its  respective  amount  of  loss. 

Illustration. — If  G,  who  is  indebted  to  the  Merchant  $100,  should  fail,  and  pay 
only  50  per  cent.,  Profit  and  Loss  is  debited  fo  .•  the  loss  $50,  and  G,  the  account 
upon  which  loss  has  arisen,  is  credited  $50. 

NOTE. — As  it  is  desirable  that  each  item  of  profit  and  ross  should  be 
seen  at  a  glance,  which  could  not  readily  be  done  if  carried  at  once  to, 
and  mixed  up  with,  the  Merchant's  personal  account,  the  Profit  and  Loss 
account  is  opened  to  obviate  this  difficulty.  This  account  being  repre- 
sentative of  the  Merchant,  is  finally  closed  by  transferring  the  balance  to 
his  account.  The  same  thing  may  be  said  of  all  other  accounts  repre- 
senting the  Merchant  which  the  Book-keeper  may  find  expedient  to 
open  ;  they  are  merely  intermediate  accounts  opened  for  the  convenience 

10 


UNIVERSAL   LAW   OP    BOOK-KEEPING. 

of  reference,  and  the  final  result  is  the  same  as  though  the  different  items 
had  been  at  once  carried  to  the  Merchant's  account,  and  these  accounts 
had  not  been  opened. 

It  has  been  a  very  general  custom  to  open  a  "Stock"  account,  to 
represent  the  Merchant's  property  or  capital  embarked  in  business,  toge- 
ther with  the  amount  of  his  indebtedness,  and  to  distinguish  these  from 
his  personal  account.  This  account  I  have  not  opened,  as  in  most  cases 
I  think  it  entirely  unnecessary  and  much  calculated  to  mystify  arid  mis- 
lead the  student.  I  do  not,  however,  object  to  its  being  opened,  but  I  do 
think  it  decidedly  better  to  dispense  with  it  when  practicable,  as  the 
fewer  intermediate  or  nominal  accounts  there  are  the  less  will  be  the 
confusion  and  liability  to  error.  For  the  same  reasons  I  have  dispensed 
with  the  "  Balance  Account,"  the  utility  of  which  I  have  never  been  able 
to  appreciate. 

The  first  thing  which  the  Book-keeper  should  do  on  opening  a  set  of 
books,  is  to  page  the  whole  of  his  books,  independent  of  their  number  or 
size,  in  regular  progression,  entirely  through.  The  advantage  of  this  is 
obvious  to  every  business  man ;  it  gives  an  air  of  genuineness  to  the 
books  which  they  would  not  otherwise  possess;  it  also  prevents  leaves 
being  abstracted  from  the  books,  either  through  the  negligence  or  design 
of  the  book-keeper,  which  in  either  case  would  be  highly  detrimental  to 
the  interests  of  the  merchant. 


MERCHANT'S 


DAY  BOOK, 


OR 


BOOK  OF  ORIGINAL  ENTRY. 


Boston,  1st  July,  1845. 


Schedule  of  my  Property  or  Assets. 

I. 

Real  Estate  at  Roxbury,          valued  at  $ 

5000 

00 

1. 

Ship  Alabama,  my  |th3-                 //      /'  " 

15000 

00 

2. 

Cash  on  hand,  as  per  cash  book, 

200 

00 

2. 

do     deposited  in  Merchants'  Bank, 

6000 

00 

1. 

Merchandise  as  per  Invoice  Book, 

10000 

00 

12.        3. 

Bills  Receivable  as  per  Bill  Book, 

3000 

00 

3. 

Philo  S.  Shelton      owes  me  on  book  ac't. 

1000 

00 

3. 

George  Hallet              »      //     n     n       /> 

1000 

00 

3. 

Henshaw,  Ward  &  Co.       n     n     ,,       // 

500 

00 

3. 

Benjamin  Rich  &  Son       //     //     n       // 

500 

00 

4. 

Thomas  Cobbler  Grattan  ,,     ,,     ,,       ,, 

500 

00 

42700 

00 

Schedule  of,  my  Liabilities  or  Debts. 

5. 

Bills  Payable  as  per  Bill  Book, 

2500 

00 

A..&  A.  Lawrence  &  Co.  on  book  ac't. 

3000 

00 

12. 

Gossler  &  Co.                      »      n 

500 

00 

4! 

Theodore  Chase                   //      n       n 

300 

00 

6300 

00 

•xf" 

A.  &  A.  Lawrence  &  Co.                    Dr. 

4. 

To  Merchandise, 

800 

00 

i 

Note.  —  Each  article  of  Merchandise  should  al- 

J.4 

ways  be  specified,  with  its  quantity,  price  and 

amount.     I  have  omitted  making  the  entries 

in  full,  merely  for  convenience,  and  to  save 

time  and  space. 

/ 

Lombard  &  Whitmore,                          Dr. 

' 

To  Merchandise,  (6  months,) 

1000 

00 

1 

r- 

-i   « 

By  their  note  at  6  months, 

1000 

00 

./ 

Gossler  &  Co.                                         Cr. 

T 

By  Merchandise,  as  per  invoice, 

2000 

00 

>/ 

William  Appleton  &  Co.                        Cr. 

i. 

By  Merchandise,  as  per  invoice, 

SOO 

00 

5. 

Dr 

To  my  Note  at  6  months, 

600 

00 

Balance  as  per  C.  B. 

II            8 

53400*00 

Note,-  C.  B.  Cash  Book.     For  explanntion  of  Iky  Book  entries  see  page  59." 


Boston,  Sth  July,  1845. 


; 

53400 

0 

5. 

George  Anderson  &Co.  "Demerara."  Cr. 

By  Merchandise,  received  per  This- 

^. 

tle,  Capt.  Jenkins,  as  per  Invoice, 

3000 

oc 

IfitVi 

;Xl 

Iv/lll 

Merchants'  Bank,                                   Cr. 

2. 

By  Check  for  duties  on  Merchandise 

from  Demerara, 

75000 

T 

n    do.  for  Freight  to  Capt.  Jenkins, 

350 

00 

1100 

00 

^ 

George  Anderson  &  Co.                       Dr. 

5! 

To  my  acceptance,  their  draft,  in  favor 
of  James  Savage,  at  20  days  sight, 

2000 

00 

14th 

^/ 

Nathaniel  C.  Woodman,                       Dr. 

*   ^ 

To  my  order  on  Lucian  B.  Brooks, 

150 

00 

o* 

Ifilh 

// 

Thomas  L.  Rayner,                               Dr. 

1 

To  Merchandise    delivered   Paul  & 

1. 

Wilson,  as  per  order, 

100 

oo 

19th 

jX^I 

Bates  &  Co.                                          Cr. 

5. 

By  my  note   of   16th  June,   given 

up  $1000 

n- 

1. 

To  Merchandise, 

500 

00 

5 

//   my  note  at  3  mo's.  for  balance, 

500 

00 

1000 

00 

10th 

// 

Merchants'  Bank,                                    Cr. 

2. 

By  Check  to  Mechanic's  Mutual  Ins: 

Co:  for  Insurance  of  Merchandise 

11. 

in  Store, 

150 

00 

2 

-Dr.  

3. 

To  John  Farquhar's  note,  26th  May, 
deposited  for  collection, 

250 

00 

// 

Thomas  Cobbler  G  rattan,                       Cr. 

By  Firkin  Chesley's  note  at  6  months, 

. 
12. 

being  his  composition  of  10  per  ct. 
//  Profit  and  Loss, 

50 

450 

00 
00 

500 

00 

$61650 

00 

7. 

2. 

TiT 


P>Qslo?i,  22nd  July,  1845. 


Real  Estate  at  Roxbury, 


Dr. 


To  my  note  to  State  Mutual  Ins:  Co: 
for  Insurance  of  House,  &c. 


-  23d 


George  Anderson  &  Co.  Dr. 

To  check  for  J.  H.  E.  Gallup's  draft 
upon  Murray  Brothers,  Demerara, 
remitted  this  day  to  close  account, 
Paid  Premium  as  per  C-  B. 

—25th- 
Estate  of  the  late  James  H.  Comer,      Cr. 

By  50  Shares  B.  &  P.  Railroad  Stock 
50      „      N.  E.  Bank  Stock, 
House  &  Lot,  No.  11  Williams 
Street,  value 

Memo:  In  my  capacity  of  Executor,  I  hold  the 
above  property  in  trust  for  the  heirs  of  said 
Estate. 


-26th 


Henry  Hilt, 

To  my  Note  at  60  days  for 


Dr. 


By  his  Note  at  same  time,  exchanged 
for  his  accommodation, 


-2Sth- 


Executors  of  the  late  John  Heron,        Cr 

By  deed  of  Farm  in  Framingham, 
,,    Check  on  Columbian  Bank — de> 
posited  in  Merchants'  for  col- 
lection, 

Memo:  The  above  being  in  part  of  the  legacy 
left  me,  by  the  said  John  Heron,  deceased. 

: — 30th  — : 


Merchants'  Bank,  Dr 

To  Saml.   Rice's  .Note,   llth  June 

60  days, 
To  William  M.  Wallace's,  12th  June 

60  days,  deposited  for  collection, 


61650  00 


100 


1000 


00 


00 


5500  00 
5250  00 


5000  00 


500 


4500 
5000 


00 


00 


00 


15750  00 


500  00 


950000 


40000 


130000;!  170000 


$119020000 


Boston,  31st  July,  1845. 


6. 

— 

^3" 

Estate  of  tfre  late  J.  H.  Comer,             Cr 
-HBy  Charles  Walker's  note  at  6  mo's 
*}1~r 

$ 

90200 

300 

00 

00 

7. 
Z 

House  in  Williams  Street,                   Dr. 

To  my  note  to  Firemen's  Ins:  Co:  for 
Insurance, 

70 

00 

90570 

00 

6. 

T 

6 

Boston,  1st  August,  1845. 

Thomas  L.  Rayner,                               Dr. 
To  Merchandise, 

500 

00 

1 

By  Note  at  90  days, 
n^A 

600 

00 

/•" 

12. 

Mas:  Hospital  Life  Ins:  Co:                Dr. 
To  Check  for  premium, 
Cr 

500 

00 

. 
3. 

~12. 

By  their  Policy  of  Insurance  payable 
to  my  assigns  at  my  decease, 
Iffi 

5000 

00 

/a 
T. 

Benjamin  Rich  &  Son,                          Cr. 
By  Merchandise  per  Invoice, 
1th 

200 

00 

A 

i. 

5. 
2. 

Real  Estate  at  Roxbury,                        Cr. 

By  my  Note  to  State  Mutual  Ins:  Co: 
returned,  being  in  part  payment  of 
their    policy    upon    said    Estate, 
which  was  partially  consumed  by 
fire  on  the  2Sth  ultimo, 
/,   Check  on  Globe  Bank  —  deposited 
in  Merchants', 
fitVi 

100 
2900 

00 
00 

3000 

00 

x< 

2. 

a 

7. 

Merchants'  Bank,                                   Cr. 

By  Check  for  Freight,  &c.  of  Mer- 
chandise, received  on  consignment 
from  Johnson  &  Co.  New  York, 
//    Check  for  their  draft  at  sight  in 
favor  of  P.  F.  Slane, 

200 
1000 

00 
00 

1200 

00 

$ 

11000 

00 

18 


Boston,  8th  August,  1845. 


JL 
2. 


3. 


8. 


2. 

5. 

9. 


Lucian  B.  Brooks       "<©4mo's."        Dr. 
To  Johnson  &  Co.'s  Merchandise, 
9th 


Gossler  &  Co.  Dr. 

To  Check,  for  this  sum  advanced  as 
per  receipt, 

llth- 


Charles  A.  Elliot,  Dr. 

To  Johnson  &  Co.'s  Mer'se,  <©  3  mo's, 
„  Gossler  &  Co.'s       //       »  4    ,, 
,,  Merchandise  from  Store  //  6    /< 

Cr. 

By  Note  dated  the  6th  inst.  at  5  mo's. 
12th 


Merchants'  Bank,  Cr. 

By  Check  for  duties  on  Merchandise, 
consigned  to  me  for  sale  by  John 
Munroe  &  Co:  Paris,  per  Moselle, 

14th 


Shipped  to  New  York  and  consigned  to 
Johnson  &  Co:  to  be  sold  on  my 
account  the  following  Merchandise 
(describe  it,) 


•16th- 


Shipped  per  Alabama,  Capt.  Wood,  and 
Consigned  to  Higginson,  Dean  & 
Stott,  Barbadoes,  to  be  sold  on  ac- 
count and  risk  of  Richard  Lewis  and 
myself  (Co.  A.) 

Merchandise  as  per  Invoice,  bough 
ofRobt.G.Shaw&Co. 
by  check, 

do.          bought  of  R.  C.  Hooper 
for  my  note  at  3  mo's. 
do.          bought  of  R.  M.  Morse 
&    Co.     for     Richarc 
Lewis's  note  at  3  mo's 
Insurance,  Shipping  Expenses,  &c 
paid  by  Lewis, 


40000 

50000 

1000  00 


4000 
3000 


2500JOO 
1500  00 


1UUU 


00 


90000 


I 
300!00 


1900'OG 


800 


00 


3000  00 


1100000 


8  28900  00 


!9 


Boston,  18th  August,  1845. 


$ 

28900 

00 

4. 

Joseph  Comer,                                      Dr. 

8. 

To  Johnson  &  Go's.  Merchandise, 

2000 

00 

/I 

Consignment  from  Johnson  &  Co.       Dr. 

8. 

As  per  account  sales  rendered  this  day, 

To  Commission  5  per  cent,  on  total 

11. 

amount  of  sales  $3300, 

165 

00 

11. 

it    Guaranty  on  ditto  2J  per  cent. 

82 

50 

11. 

//    Advertising, 

4 

50 

7. 

n   Johnson  &  Co.  for  bal.  —  net  sales 

2844 

50 

3096 

50 

/I 

Shipped  per  Siddons,   Capt.  Cobb,   anc 

9. 

consigned  to  John  T.  Pearce,  Liver- 

10. 

pool,  to  be  sold  on  joint  account  of 

him,  Addison  Belknap  and  myself 

• 

(Co.  B.)  . 

10. 

The  remainder  of  Gossler  &  Go's 

8. 

Merchandise,   taken     at     highest 

market  value, 

625 

00 

1. 

Merchandise  from  Store, 

5000 

00 

400  bbls.  Flour,  bo't.  of  T.  D.  Quincy 

2. 

by  check, 

2100 

00 

500    „        „        „    „  Earle  & 

5. 

Brown,  by  my  note  at  60  days 

2670 

00 

2. 

Insurance,  Drayage,  &c.  pd.  by  check 

165 

00 

10560 

00 

/^ 

Consignment  from  Gossler  &  Co.         Dr 

^ 

8. 

As  per  account  sales  rendered  this  day 

11. 

To  Commission  2|  per  cent,  on  tola 

amount  of  sales  $1125.00 

-  28 

12 

11. 

n    Guaranty  2|  per  cent,  on  $500  - 

-     12 

50 

11. 

n   Advertising, 

1 

50 

4. 

//    Gossler  &  Co.  for  bal.  —  net  sales 

1079 

63 

1121 

75 

"Tut 

x^T" 

Richard  Lewis,                                     Cr 

~& 

By  Note  at  60  days, 

1000 

00 

$ 

46678 

25 

Boston,  23d  August,  1845. 


9. 

John  Munroe  &  Co:           Paris.          Dr. 

$ 

46678 

2b 

5. 

To  acceptance  of  their  draft  in  favor 
of  T.  B.  Curtis  at  20  days  sight, 

2000 

00 

Bills  Receivable,                                    Cr. 

3. 
10. 
11. 

By  Chas.  A.  Elliot's  note,  discounted 
at  Globe  Bank  this  day  —  passed  to 
my  credit  in  account, 
//    Discount, 

1857 
42 

56 
44 

1900 

00 

James  H.  West,                                    Dr. 

a 

~3. 

8. 

To  John  Munroe  &  Go's  entire  con- 
signment, subject  to  debenture,  for 
exportation, 

Pr 

5000 

250 

5fr 

3SSS 

00 

00 
60 

75 

3000 
4188 

00 
7o 

By  his  Note  at  90  days, 
Balance  as  per  C.  B. 

Consignment  from  J.  Munroe  &  Co:     Dr. 

To  Commission,  5  per  cent,  on  total 
amount  of  sales  $5000, 
//   Guaranty  2|  per  cent,  on  $2000, 
//  John  Munroe  &  Co:  for  balance 
net  sales, 

30th 

11. 
11. 
9. 

Johnson  &  Co:           New  York.          Dr. 

7. 
1). 

To  amount  of  net  sales  of  my  con- 
signment, as  per  their  account  sales 
received  this  day, 

3500 

00 

$ 

61267 

00 

Boston,  1st  September,  1845. 

2. 

Merchants'  Bank,                                   Dr. 

3' 

To  Henry  Hilt's  Note  of  26th  July, 
deposited  for  collection, 

500 

00 

*  See  note  to  Second  Edition,  page  12. 
21 


8 


Boston,  2nd  September,  1845. 


9. 
1. 

Richard  Lewis,                                     Dr. 

To  my  Bill  of  Sale  of  one-eighth  of 
Ship  Alabama,  now  on  voyage, 

$ 

500 
5000 

00 
OC 

1. 
9. 

By  Merchandise  as  per  Invoice, 
3rd 

3500 

OC 

John  T.  Pearce,       "  Liverpool."         Cr. 

10. 

a 

C.  B. 
Page  5. 

By  my  half  first  cost  of  Merchandise, 
received  per  Concordia,  to  be  sold 
on  our  joint  account  (Co.  P.)  as 
per  Invoice, 

1th 

300 

00 

3000 
it 

00 

Comins  &  Preble,                                 Dr. 
To  Merchandise, 

Philo  S.  Shelton,                                  Cr. 

T 

By  Merchandise  as  per  Invoice, 
fitVi 

200 

00 

A.  &  A.  Lawrence  &  Co:                     Dr. 

4. 
1. 

To  Merchandise, 
9th 

200 

00 

Gossler  &  Co:                                       Dr. 

la 

Settled  by 
note,26inst. 

To  Check  on  Globe  Bank,  on  account, 

OtTn 

.1000 

00 

3000 

00 

n 

John  Amory  Codmah                            Dr. 
To  Merchandise, 

A.  Comer  BelknajJ,                              Dr. 

7. 

To  my  deed  of  Farm  in  Framingham 

4500 

00 

10. 

By  this  amount  deposited  by  him  to 
my  credit  in  Globe  Bank, 

4500 

00 

$ 

19900 

00 

Boston,  13///.  September,  1845. 


11. 

X 

A 

12. 


JO. 

i. 


John  Munroe  &  Co:  Paris.  Dr. 

To  my  draft  of  this  date  on  Johnson 
&  Co:  New  York,  at  sight,  remitted 
to  Thomas  &  Joseph  Sands  &  Co: 
New  York,  on  your  account  as  per 
advice,  to  close  account, 

15th- 

Joseph  Comer,  Cr. 

By  his  note  of  this  date  at  90  days, 
•with  interest  added  to  balance  ac- 
count, 


Merchandise  Co:  P.  Dr 

To  John  T.  Pearce  for  his  half  of 

net  proceeds, 
i,    Profit  &  Loss  for  my  half  Profit 


John  T.  Pearce,  Liverpool,          Dr. 

To  Merchandise,  shipped  to  Roscoe, 
Ogden  &  Co:  New  York,  to  be  sold 
on  his  account,  as  per  advice  of 
the  19th  ultimo. 

-r-  22nd 


Rowland  Ellis,  Dr. 

To  my  deed  of  3  Lots  of  Land  at 
Newton,  numbered  1,  2  and  4  on 
plan  drawn  by  Alex.  Wadsworth, 

By  Langdon  S.  Rogers'  note  in  his 

favor  at  90  days. 
:_._  24th 


Merchants'  Bank,  Cr. 

By  Check  to  J.  W.  Rollins  in  full  for 
rebuilding  my  house  at  Roxbury 
as  per  contract, 


2000 


31 


3339  50 
339  50 


00 


00 


3600  00 


1990( 


18SS75 


00 


2031 


00 


3879  00 


3000 


00 


3600 


00 


250000 


/ 


33 


10 


Boston,  2blk  September,  1845. 


8  36598 

75 

John  Amory  Cod  man,                            Cr. 

3. 

By  F.  H.  Appleton's  note  in  favor  of 

1 

Henry  A.  Whitney,  in  full  of  Bill 

of  Merchandise  sold  him  the  8th 

instant, 

11.00 

00 

•s\ 

Henry  Hilt,                                            Dr. 

To  Check  on   Merchants'  Bank,  to 

2. 

take  up  his  note  of  26th  July, 

500 

00 

3. 

By  his  note  of  this  date  at  60  days, 

11. 

with  interest  added,  to  renew  the 

above, 

505 

2o 

x 

Globe  Bank,                                           Cr. 

10. 

By  Check  to  Henry  B.  Smith,  for 

11. 

rent  of  Store  to  date, 

300 

00 

Of)t>, 

X" 

John  T.  Pearce,          Liverpool,          Dr. 

10 

To  my  acceptance  of  Lizardi  &  Go's 

draft  in  favor  of  Benjamin  Daven- 

5. 

port,  at  10  days  sight,  as  per  advice 

of  the  19th  ultimo. 

2000 

00 

/^/L-J       T~7f 

$ 

40404 

00 

Boston,  30//4  &;j>t  ember,  1845. 

The  following  entries  to  close  the  Books. 

0. 

Estate  of  the  late  James  H.  Comer,      Cr. 

"£     !         Bv  B.  &  P.  Railroad  Stock, 

400 

i 

6. 

„   N.  E.  Bank 

200 

oo: 

7. 

„   House  &  Lot,  No.  11  Williams 

j 

Street, 

30 

00 

630 

oc 

24 


Boston,  3Qth  September,  184.5. 


11 


/ 

Merchant,                                                 Dr. 

To  the  following  Accounts,  being  Assets 

12. 

on  hand  this  day. 

1. 

Real  Estate  at  Roxbury,      valued  at 

5000 

00 

1. 

Ship  Alabama,                          //       ,,- 

10000 

00 

2. 

Cash, 

708 

28 

2. 

Merchants'  Bank,   for  this   sum   on 

deposit, 

5035 

00 

1. 

Merchandise  as  per  Invoice  Book, 

3000 

00 

3. 

Bills  Receivable,  as  per  Bill  Book, 

19136 

25 

5. 

Nathaniel  C.  Woodman  owes 

50 

00 

5. 

Lucian  B.  Brooks                // 

150 

00 

6. 

B.  &  P.  Rail  Road  Stock,  valued  at 

5500 

00 

6. 

N.  E.  Bank  Stock,                   „       „ 

5250 

00 

7. 

House  &  Lot,  No.  11  Williams  St., 

5000 

00 

9. 

Shipment  to  Barbadoes  (Co.  A.) 

5500 

00 

9. 

//         //  Liverpool  (Co.  B.) 

3520 

00 

10. 

John  T.  Pearce      owes 

2180 

50 

10. 

Addison  Belknap, 

220 

00 

10. 

Globe  Bank,  for  this  sum  on  deposit, 

9357 

56 

7. 

Real  Estate  at  Newton,   valued  at 

2400 

00 

82007 

59 

Cr.  

12 

By  the  following  Accounts,  being  Debts 

•w« 

due  this  day. 

5. 

Bills  Payable,  as  per  Bill  Book, 

10340 

00 

4. 

Gossler  &  Co. 

279 

63 

6. 

Estate  of  the  late  James  H.  Comer, 

17180 

00 

12. 

Suspense,                  *pS*    . 

5000 

00 

32798 

63 

30th 

/^ 

Profit  &  Lqjffe                                       Cr. 

•^- 

12. 

By  Gain  on  the  following  accounts, 

x 

1. 

Ship  Alabama, 

1200 

00 

1. 

Merchandise, 

2385 

00 

7. 

Farm  in  Framingham, 

150 

00 

9. 

Shipment  to  Johnson  &  Co. 

340 

00 

7. 

Real  Estate  at  Newton, 

.  450 

00 

11. 

Commission, 

443 

12 

11. 

Guaranty, 

145 

00 

5113 

12 

12. 

Dr.  

TT 

To  Interest, 

3 

85 

11. 

/;   Expense, 

1020 

81 

12. 

//   Merchant  for  net  gain, 

3257 

96 

4282 

62 

NOTE  TO  SECOND  EDITION. — Entry  of  the  29th  August.  In  the  hurry 
of  getting  out  the  first  edition  of  this  work,  it  escaped  the  observation 
of  the  compiler,  that  he  had  inadvertently  charged  guaranty  on  $2000, 
the  amount  paid  in  cash,  instead  of  $3000,  the  amount  sold  on  credit 
— to  insure  the  payment  of  which  latter  sum  the  guaranty  was  in- 
tended to  be  charged.  As  it  would  cause  great  trouble  to  alter  the 
stereotype  plates  now,  the  error  is  not  corrected ;  but  :'t  would  be 
advisable  that  the  student,  in  going  through  this  work,  should  charge 
the  guaranty  upon  the  right  amount. 

G.  N.  C. 

26 


MERCHANT'S 

CASH   BOOK, 

OR 

BOOK  OF  ORIGINAL  ENTRY, 

FOR 

CASH   TRANSACTIONS. 


1 

1845.. 

July  1. 

7. 

8. 

9. 
12. 
14. 
16. 
19. 
23. 
25. 
28. 


Dr.. 


.Cash. 


To  this  Amount  on  hand  as  per  Schedule 
Sales  of  Merchandise  this  day, 

do.  do. 

Philo  S.  Shelton  on  ac't. 
Sales  of  Merchandise  this  day, 
Henshaw,  Ward  &  Co:  in  full 
Sa^es  of  Merchandise  this  day, 
Benjamin  Rich  &  Son  on  ac't. 
Sales  of  Merchandise  this  day, 
Estate  of  the  late  James  H.  Comer, 
Sales  of  Merchandise  this  day, 
Ex'rs.  of  the  late  John  Heron  in  full, 
Received  this  month, 


200 
100 
800 
75 
500 
200 
300 
125 
500 
100 


50000 


20000 


3400  00 


$  3600 


00 


.Cash. 


.0.. 


2 

-1845 


July  1. 

7. 

8. 

9. 

10. 

19. 
23. 

30. 
31. 


By  expense,  fitting  up  store,  &c.  as  per  rets. 
//  W.  Appleton  &  Co:  in  full  for  Mdse. 
//  J.  Woodman,  repairs  of  Roxbury  Est. 

//  Theodore  Chase,  in  full 

Balance  on  hand,  $500.00 
/;  Cartage  &  Wharfage  of  Merchandise 
from  Pemerara, 

Balance  on  hand,  $474.00 
»  Coolidge  &;  Haskell  for  Merchandise, 
as  per  Invoice, 

Balance  on  hand,  $1049.00 

//  J.  H.  E.  Gallup,  2  per  cent.  prem.  on  his 

draft  on  Murray  Brothers,  Demerara 

Balance  on  hand,  $1154.00 

»»  A.  &  A.  Lawrence  &  Co:  on  ac't. 

Balance  on  hand,  8254.00 
.    Merchant,  personal  expenses, 

Paid  this  month, 
Balance  to  next  month, 


20000 
20000 
10000 
30000 

2600 


500 


200000 


100 


00 


00 


00 


3446  00 
15400 


3600  00 


3 
1845._ 


Dr.. 


.Cash.. 


August 
1. 

2. 

4. 
a 
6. 

8. 

9. 
11. 
15. 
18. 
20. 
21. 
23. 
25. 

M 

27. 
**). 


To  Balance  from  last  month, 

Capt.  Wood,  my  share  net  freight  of 

ship  Alabama,  last  voyage, 
Joseph  Woodman,  rent  of  House  No. 

11  Williams  Street,  to  date, 
George  Hallett  in  full, 
Sales  of  Merchandise  this  day, 
Nathaniel  C.  Woodman  on  ac't. 
A.  Belknap,  for  this  season's  crop  of 

Farm  in  Framingham, 
Sales  of  Merchandise  this  day, 
do.  do. 

do.  do. 

Richard  Lewis, 
Sales  of  Merchandise-  this  day, 
Addison  Belknap  on  ac't. 
Sales  of  Merchandise  this  day, 
Globe  Bank,  per  check, 
Merchants'//     n       ,i 
James  H.  West  in  full  for  Munroe's 

Merchandise, 

Sales  of  Merchandise  this  day, 
Received  this  month, 


LF 


1200  00 

10000 

1000  00 

20000 

10000 

40000 
27500 
50000 
32000 

2000  00 
25000 

3300  00 
15000 

2000  00 

3000  00 

2000  00 
38600 


15400 


17181 


00 


$  1733500 


.Cr. 


LF 

Aug.  1. 

By  Ed.  Maxwell,  Jr.,  Clerk,  in  full  to  date 

11 

100 

00 

t 

Balance  on  hand.  $1254.00 

2. 

//  Samuel  A.  Eaton,  for  Gold  Watch  and 

Chain,  presented  to  Capt.  E.  Wood, 

12 

200 

00 

Balance  on  hand,  $1154.00 

4. 

//  My  Acceptance  G.  Anderson  &  Co's 

draft—  Suffolk  Bank, 

r. 
•  ) 

2000 

00 

Balance  on  hand,  $354.00 

6. 

//  Drayage  and  Labor  on  consignment 

from  Johnson  &  Co: 

S 

3 

t>0 

"Balance  on  hand,  $450.50 

8. 

//  Benjamin  Loring  &  Co:  Stationery, 

11 

,37 

00 

Balance  on  hand,  $813.50 

9. 

»  Drayage,  &c.  -on   consignment   from 

Gossler  &  Co: 

8 

3 

25 

Balance  on  hand,  $1085.25 

11. 

//  R.  W.  Turner,  Painting  at  Farm  in 

Framingham, 

7 

250 

00 

Balance  on  hand,  $1335.25 

14, 

n  Freight,  &c.  on  Shipt.  to  Johnson  & 

Co:,  New  York, 

9 

160 

00 

• 

Balance  on  hand,  $1175.25 

16. 

n  Jn.  W.  Rollins,  on  account  of  contract 

for  rebuilding  -House  at  Roxbury, 

1 

300 

00 

Balance  on  hand,  $1195.25 

IS. 

//  Merchants'  Bank  —  deposited, 

2 

3000 

00 

Balance  on  hand,  $195.25 

21. 

//  Globe  Bank  —  deposited  to  open  ac't. 

10 

3300 

00 

Balance  on  hand,  $445.25 

25. 

„  William  F.  Porter,  for  deed  of  lot  of 

land  at  Newton, 

7 

5500 

00 

Balance  on  hand,  $95.25 

27. 

//  Labor,  &c.  on  consignment  from  John 

Munroe  &  Cm 

S 

11 

25 

., 

i,  Globe  Bank  —  deposited, 

10 

2000 

00 

Balance  on  hand,  $84.00 

29. 

n  Amos  AVoocL&  Sor^  for  Wood  &  Coal 

11 

,60 

00 

Balance  on,hand,  $24.00 

/ 

* 

30. 

,,  Merchant,  personal  expenses, 

12 

150 

00 

* 

Paid  this  month,  ' 

2 

17075 

00 

Balance  to  next  motnth, 

260 

oc 

$ 

17335 

00 

5 

1845.- 


Dr, 


.Cash. 


Sept. 
1. 
2. 
3. 
5. 
6. 
8. 
10, 

13 
15 
17. 

19. 
22. 
26. 
27. 
30 


To 


Balance  from  last  month, 

B.  &  P.  Railroad  Stock — dividend, 

Sales  of  Merchandise  this  day, 

N.  E.  Bank  Stock— dividend, 

Benjamin  F.  Brooks — borrowed, 

Sales  of  Merchandise  this  day, 
do.  do. 

Comins  &  Preble,  in  full  for  Mdse.  4th 
instant, 

Sales  of  Merchandise  this  day, 

Globe  Bank,  per  check, 

John  Tyler,  net  proceeds  of  Merchan- 
dise sold  at  Auction  «  Co.  P.' 

Merchants'  Bank,  per  check, 

Sales  of  Merchandise  this  day, 

Lucian  B.  Brooks  on  ac't. 

Sales  of  Merchandise  this  day, 

Henry  Braun — returned, 
do.  interest, 

Received  this  month, 


400  00 
10000 


200 


00 


100000 
50000 
30000 

30000 

10000 

1000  00 

7000  00 

2000  00 

13000 

600|  00 

300:00 

2000100 

367 


260 


15933  67 


00 


$  1619367 


.Cash. 


1845. 


LF 

Sept.  2. 

By  Freight,   &c.,   of  Merchandise   from 

Liverpool,  Company  P. 

8 

321 

00 

Balance  on  hand,  S439.00 

4. 

//  Daily  Advertiser,  for  Advertising, 

11 

10 

00 

Balance  on  hand,  $629.00 

5. 

n  Morning  Post,  for  Advertising, 

11 

10 

00 

Balance  on  hand,  $1619.00 

8. 

//  Evening  Transcript,  for  Advertising, 

11 

10 

00 

Balance  on  hand,  $2409.00 

10. 

n  Dennison,  Adams  &  Co:,  for  Gold  Pen 

11 

3 

50 

Balance  on  hand,  $2705.50 

13. 

//  Benjamin  F.  Brooks,  returned, 

10 

1000 

00 

a 

"                   do.                  interest, 

11 

1 

33 

Balance  on  hand,  $1804.17 

15. 

n  My  acceptance  of  J.-Munroe  &  Go's 

draft,  at  Trader's  Bank, 

5 

2000 

00 

Balance  on  hand,  $804.17 

16. 

//  Alex.  Wadsvvorth,  for  surveying  and 

laying  out  land  at  Newton  into  5  lots 

7 

50 

00 

Balance  on  hand,  $754.17 

17. 

n  Merchants'  Bank  —  deposited, 

2 

5000 

00 

Balance  on  hand,  $2754.17 

19. 

n  Henry  Braun  —  lent, 

10 

2000 

00 

Balance  on  hand,  $2754.17 

. 

22, 

//  Nathaniel  Greene  —  Postage  Account, 

11, 

8 

31 

Balance  on  hand,  $2875.86 

24. 

„  Porter,  Cleaning  Store,  &c. 

11 

13 

00 

Balance  on  hand,  $2862.86 

27. 

„  My  Note  to  H.  Hilt  at  Shawmut  Bank, 

5 

500 

00 

Balance.  on  hand,  $3262.86 

29. 

n  Johnson  &  Go's  draft  at  sight  —  Willis 

&Co: 

7 

233 

25 

Balance  on  hand,  $3029.61 

30. 

//  Edward  Maxwell,  Jr.  in  full  to  date 

11 

125 

QQ 

1 

it 

n 

//  Merchant,  personal  -expenses, 
//  Globe  Bank  —  deposited, 
Paid  this  month,- 

12 
10 
2 

200 
4000 

00 
00 

15485  39 

Balance  on  hand,^ 

70S 

28 

$ 

16193 

67 

MERCHANT'S 

LEDGER. 


1  11   U  i,  A.  . 

5 

Anderson,  George  &  Co. 

Lawrence,  A.  &  A.  &  Co. 

4 

Lewis,  Richard, 

9 

Bills  Receivable, 

3 

Loan  Account, 

10 

Bills  Payable, 

5 

Brooks,  Lucian  B. 

5 

M 

Bank  Stock,  N.  E. 

6 

Belknap,  Addison, 

10 

Merchandise, 

1 

Merchants'  Bank, 

2 

n 

]\T*»iv»H5inr1'ic<»  C*f\    T* 

Munroe,  John  &  Co. 

9 

Cash, 

2 

Merchant,^" 

15 

Chase,  Theodore, 

4 

Comer,  Joseph, 

4 

p^  

Consignment  from  Johnson  &  Co. 

8 

//               //    Gossler  &  Co. 

8 

Pearce,  John  T. 

10 

if              //    J.  Munroe  &  Co. 

8 

Profit  &  Loss, 

12 

Commission, 

11 

D  

Real  Estate  at  Roxbury, 

1 

E.  

Rich,  Benjamin  &  Son, 

3 

Rayner,  Thomas  L. 

6 

Estate  of  the  late  J.  H.  Comer, 

6 

Rail  Road  Stock,  B.  &  P. 

6 

Expense, 

11 

Real  Estate  at  Newton, 

7 

p  

s 

Farm  in  Framingham, 

7 

Ship  Alabama, 

1 

Shelton,  Philo  S. 

3 

G.  . 

Shipment  to  Johnson  &  Co. 

9 

Shipment  to  Barbadoes  Co.  A. 

9 

Grattan,  Thomas  Cobbler, 
Gossler  &  Co.     , 
Globe  Bank, 

4 
4 
10 

Shipment  to  Liverpool  Co.  B. 
Suspense, 

9 
12 

Guaranty, 

11 

W.  

jj  

Woodman,  Nathaniel  C. 

5 

Hallett,  George, 

3 

X    y    Z  

Henshaw,  Ward  &  Co. 

3 

House  &  Lot  No.  11  Williams  Street, 

7 

I.&J..  

Johnson  &  Co 

7 

Interest, 

11 

JAM 

Ul.  JCiJkALi    S^alAlS     AT     AVUA  JS  U  tt  X  .  —  Vyl.  

1845. 

II 

1845. 

II 

July  1. 

To  Merchant, 

1 

5000 

00 

Augusts. 

By  Sundries, 

4!!  3000 

00 

„    8. 

n  Cash, 

2 

100 

00 

Septr.  30. 

n  Merchant, 

11 

5000 

00 

,,22. 

//  Bills  Payable, 

3 

100 

00 

^^ 

Aug.  10. 

i,  Cash, 

4 

300 

00 

^^^"^ 

Septr.  24. 

//  Merchants'  Bk. 

9 

2500 

00 

^^ 

$ 

8000 

00 

$ 

-= 

8000 

: 

00 

1845. 

| 

1845. 

July  1. 

To  Merchant, 

1 

15000 

00 

Aug.  1. 

By  Cash, 

3 

1200)00 

Septr.  30. 

n  Profit  &  Loss, 

/ 

1 

1200 

00 

Septr.  2. 
//    30. 

//  Richard  Lewis, 
//  Merchant, 

8 
11 

5000 
10000 

00 
00 

$|]  16200  00 

$ 

16200 

00 

LJT.  IVlEKUHAJNLHSli.  —  V>1.  

1845. 

1 

1845. 

July  1. 

To  Merchant, 

1 

10000 

00 

July. 

By  Sundries, 

DB 

2400  00 

n 

Sundries, 

DB 

6700 

00 

tt 

//        // 

CB 

8QO  00 

n 

'/ 

CE 

726 

00 

August. 

//           n 

DB1 

9500  00 

August 

n 

DE 

200 

00 

" 

it      —a.        —  

«fr 

2081 

00 

Septr. 

n     30. 

n             % 

Profit  &  Loss, 

it 
11 

3700 
2"385 

00 
00 

Septr. 
n 

II         _//  .  
n           „ 

TO- 
OK 

-  4200  00 
1730  00 

/ 

30. 

n  Merchant, 

11 

3000 

00 

8 

23711 

00 

$123711 

00 

r^ 

NOTE. — These  accounts  are  representative  of  the  Merchant ;  by  debiting  them  with 
their  cost  or  value,  and  all  outlays  upon  them,  and  crediting  them,  from 
time  to  time,  with  the  amounts  received,  the  difference  of  the  columns  at 
once  shows  the  gain  or  loss  upon  each  account. 
D.B.    Day  Book. 
C.B.    Cash  Book.      ^^^ 

37 


-Dr.- 


—  CASII.- 


Cr. 


1845. 

1845. 

j 

July  1. 

To  Merchant,         DB 

1 

200 

00 

July. 

By  Sundries,          CB 

3446 

00 

„ 

it  Sundries,           CB 

1 

3400 

00 

Aug. 

//        //                  n 

4 

!l7$?& 

•00 

Aug. 

//           n                        ii 

3 

17181 

00 

Septr. 

H                II                                    II 

f> 

15485 

39 

Septr. 

n           it                           Ii 

5 

10933 

67 

„   30. 

ii  Merchant, 

11 

I  708 

28 

*        -T"      .__'!_ 

1 

36714 

67 

$|i36714 

67 

—  • 

NOTE. — This  account  is  representative  of  the  Merchant. 


-Dr.- 


-MERCHANTS'  BANK.- 


Cr.- 


1845. 
July  1. 

n  19. 

»  28. 

n  30. 
Aug-5. 

n    16. 

Sep.  1. 

n     17. 


To  Merchant, 

Bills  Receivable, 

Merchant, 

Sundries, 

R.  E .  at  Roxbury, 

Cash, 

Bills  Receivable, 

Cash, 


By  Merchandise, 

do. 

do. 

G.  Anderson  &Co: 
M.H.L.Ins.Co: 
Johnson&Co's.ct. 
Johnson  &  Co: 
Gossler  &  Co: 
J.M.&Co<6.  con't. 
R.  G^haw  &c  Co: 
Thosr.  T).  Qukicy, 
Sundries,      <. 
Cash, 

do. 
R. 
Bil 
//  Merchant, 


do.^ 

l.Tjf&t  Roxbury, 

lills  Receivable, 


75000 
35000 
15000 

100000 
50000 
20000 

1000  00 
30000 
800  JOO 

400000 

210000 


165 


3000  00 
2000  00 


2500 
500 


5035  00 


24350  00 


00 


NOTE  —Tins  is  a  personal  account,  and  must  be  treated  the  same  as  an  individual 
account.  \Vhere  a  correct  check  book  is  kept,  the  items  of  this  account 
may  be  collected  and  posted  in  one  amount  for  the  month,  the  same  as  in 
the  Merchandise  account.  It  is,  however,  a  much  safer  plan  to  have 
each  item  entered,  and  more  than  compensates  for  the  greater  ipacc  it 
occupies  in  the  Ledger. 


'                             i*t««                                              \Ji* 

1845. 

1345. 

1 

July  1. 
a 

To  Merchant,             j   1 
//  Sundries,               DE 

300000 

185000 

July 
Augt. 

By  Sundries, 
//        n 

DB 

1366-00 
1900  OC 

Augt. 

n        do.            ___-4-"- 

nsoooo 

Sept. 

n        n 

it 

500,00 

Septr. 

X77        do.  "^  'I'n 

7136 

25 

„  30. 

n  Merchant, 

11 

19136,25 

1  $ 

23486 

25 

$23486|2£ 

NOTE.  —  This  account  is  representative  of  the  Merchamr" 

OliliiLdUIX.                                                          \J\.» 

1845. 
July  1.  To  Merchant,               1 

1845. 
1000  00  July  9.  By  Cash, 
Sept.  5.    //  Merchandis 

ll     800 
e,          8j     200 

00 
00 

00 

Sll  100000 

S     1000 

( 

Cr 

1845.  1 
July  l.lTo  Merchant,               1 

41845. 
Aug.  4.  By  Cash, 

3||   100000 
fr 

1845;                                               % 

July  1.  To  Merchant,               11 

I   1845 
500    OIJ'lyH.  By  Cash, 

ill     500 

00 

—  i 

„  T)r     ,,,.,._,..-.  _  .  —  RRWJATVTTN   T?TPTT  A*1  SOTJ  ...—•——- 

Pr 

1845. 
July  1.  To  Merchant,               1 

X 

11845. 
,1'Iy  19.  By  Cash, 
Aug.  4  .    n  -Merchandis 

1       300 
e,            4       200 

00 

00 

$ 

. 

S       500 

00 

41 


-Dr.- 


•  THOMAS  COBBLER  GRATTAN,- 


— Cr. 


1845. I 
July  l.jTo  Merchant, 


I  1845. 
1IJV  500.|OQb'1y21.1By  Sundries, 


2| b  500*00 


1845. 

1845. 

'i 

July  2. 

To  Merchandise, 

1 

>   800 

00 

July  1. 

By  Merchant, 

1 

p3000 

0(V 

„  30. 

//  Cash, 

2 

2000 

(HI 

/ 

Sept.6. 

//  Merchandise, 

8 

200 

00 

'    / 

$ 

3000 

00 

$ 

3000 

00 

LSI.  —                                        vJua&L,fcit    oc/    v^u.                                             \JL* 

1845. 

1845. 

Aug.  9. 

Sept.  6. 

To  Merchants'  Bank, 
„  Globe  Bank, 

5 

8 

%  300 
3000 

00 
00 

July  1. 
//     5. 

By  Merchant, 
a  Merchandise, 

I 

500 
2000 

00 
00 

/,  30. 

//  Merchant, 

11 

279 

f)3 

Ag.20. 

//  Net  sales  consgt. 

(') 

1079 

63 



$ 

3579 

63 

S 

—  rrn 

3579 

—  •__'  •  •  _• 

63 
=? 

-Dr. 


•THEODORE  CHASE. 


-Cr.- 


1845.  I 
July_9jTo  Cash, 


SOOlOO 


I  1845.  I 

iJuly  I.'  By  Merchant,  I  Iff    300|00 


-Dr.- 


JOSEPH  COMER. 


-  18.!To  Johnson  &  Go's  ct 


I  1845. 
.(  6l|2.QOO|oo|Spt.l5. 


By  Bills  Receivable,  I  9lj^2000!oO 


1845. 
Ply  18. 
Aug. 

Sept. 
,/30. 

To  Sund:ies,          DB 
//        it                   it 
n  NCash,                 CB 
n      n                     if 
n  Merchant, 

/ 
11 

i 

ft  000 
100' 
2000 
2500 
10340 

00 
1)0 

ee 

00 
00 

1845. 
July  1. 
n 
Aug. 
Sept. 

By  Merchant, 
//  Sundries,          DE 

I 

$2500 
3770 

00 
00 

ft              n                        it 

II                     H                                   II 

Z. 

7(i7.() 
2000 

00^ 
00 

15940 

00 

1 

15940 

00 

NOTE. — This  account  is  representative  of  the  Merchant. 


' 

1845. 

Xft-Bills-Payable, 
n  -Merchants'  Bank, 

M0 

2 

3 

$ 

'1000 

00 
00 

1845. 
July  8. 

By  Merchandise, 

x; 

2 

?3000 

00 

3000 

op 

t 

3000 

00 

1845. 
J'lyH. 

To  L.  B.  Brooks, 

2 

f  15° 

00 

^1843,. 
Aug.  6. 
Sep30 

By  Cash, 
it  Merchant, 

3 
1! 

1 

#100 
50 

00 

00 

$ 

150 

00 

_^  J--_ 

—  —  —  ^ 

150 

00 

-i-'      *                                                                                       J\jl       L        .U«     J_JU.VJ\J1\.O«                                                                              V>  1  • 

1845. 
Aug.8. 

To  Const  gnm't.  from 
Johnson  &  Co: 

5 

$ 

^900 

00 

1845. 
J'iyl4. 
Sep26. 

n     30. 

By  N.  C.  Woodman, 
n  Cash, 
n  Merchant, 

i 

2 
5 
11 

$ 

^"150 
600 
150 

00 
00 
00 

900 

oo 

900 

00 

—  jtrj.  —                               —  X.HUMAS    LI.    jLVA.xn.bJi.  —                              —  \ji.  — 

1845. 

1845. 

1 

I;lyl6. 

To  Merchandise, 

2 

100 

00 

Aug.l. 

By  Bills  Receivable, 

4 

600 

00 

Aug.l. 

"            " 

4 

500 

00 

/ 

$ 

600 

00 

A 

600 

00 

1845. 

^ 

184o. 

SepoO. 

To  Merchaf^ff 

11 

17180 

00 

J'ly25. 

By  Sundries,          DB 

3 

15750 

00 

^^. 

n     if 

//  Cash,                 CB 

1 

500 

00 

^ 

ii  31 

//  Bills  Receivable, 

4 

SOU 

00 

^^^ 

SqTSO. 

w-Sundries, 

10 

630 

00 

$ 

17180 

•00 

N. 

$ 

17180 

00 

~^=z 

NOTE. — This  account  is  representative  of  the  Estate  the  Merchant  holds  in  trust. 


1845. 
Fly  25. 

SepSO. 

ToEst.  of  J.H.Comer 

n      ii       n            n 

— 

3 
LO 

$ 

5500 
400 

00 
00 

1845. 
Sept.l. 

n   30. 

By  Cash, 
n  Merchant, 

5 
11 

$ 

400 
5500 

1  5900 

00 
00 

5900 

00 

00 

JLfl.  —  1>.    XL<.    DANK,    OTOCK.  —                                   —  \jT.  

1845. 

Ply  25. 

Sep  30. 

To  Est.  of  J.H.Comer 

4it      ii       ii             n 

3 

10 

$ 

5250 
200 

00 

00 

1845. 
Sept.  3. 
,/  30. 

By  Cash, 
n  Merchant, 

5      200 
11    5250 

$||  5450 

"_    •T1--.   .!  

00 
00 

00 

=r 

&•'•....— 

5450 

00 

NOTE. — Both  of  the  above  accounts  are  representative  of  the  Merchant. 

42 


1845. 

1845. 

i 

Fly  25. 

To  Est.of  J.H.Comer, 

3 

5000 

00 

Aug.  2. 

By  Cash, 

3, 

100 

00 

/,   31. 
Sep  30. 

//  Bills  Payable, 
a  Est.of  J.H.Comer, 

4 

10 

70 
30 

DO 
DO 

Sep  30. 

//  Merchant,              111 

M 

5000 

00 

—  : 

$ 

5100 

00 

A 

5  IOC 

06 

1845. 

1845. 

T~* 

J']y28 

To  Merchant, 

3 

4500 

00 

Aug.S. 

By  Cash,  J" 

3 

400 

00 

Ag.ll. 
Sep  30. 

n  Cash, 
n  Profij:  &  Loss, 

4 

11 

250 
150 

00 
00 

Sep  ij. 

n  Globe  Bank, 

8 

4500 

00 

1 

4900 

00 

8 

4900 

00 

1845. 

1845. 

AS.  25. 

To  Cash, 

4 

5500 

00 

Sep  22. 

By  Bills  Receivable, 

9 

3600 

00 

Sen  16 

n        "n 

0 

50 

00 

n    30. 

//  Merchant, 

11 

2400 

00 

»   30. 

n  Profit  <te  Loss, 

11 

450 

00 

x* 

$ 

6000 

00 

$ 

— 

6000 

_-_-  

00 

NOTE.— The  three  accounts  above  are  representative  of  the  Merchant. 


1845. 
Aug.  6. 

n    30. 

Sep  29. 

To  Merchants'  Bank, 
//  Shipt  to  N.  Y. 
n  Cash, 

! 

: 

1000 
3500 
233 

1  4733 

00 
00 

» 

25 

1845. 
Ag.  18. 
Sep  13. 

By  Net  sales  Consgt. 
M  J.  Munroe  &  Co: 

X 

6 
9 

$ 

2844150 
1888  175 

| 

4733  J26 

43 


Lfl.  V^OWSUrWIYUSWT    t  HUM    JUUJMSUIN    iX,   V>U.                              \Jl. 

1845. 

. 

1845. 

Aug.  6. 

To  Merchants'  Bank, 

4 

\2ft8 

00 

Aug.8. 

By  1^  .  B.  Brooks, 

5 

900 

//  Cash, 

4 

/NY? 

50 

n  11. 

n  Chas.  A.  Elliot, 

5 

400 

n    18. 

*/  Sundries, 

6 

/S09B 

50 

„  18. 

n  Joseph  Comer, 

6 

2000 

ix  s: 

$ 

3300 

00 

$ 

3300 

—  JL/I.  —             —  v>unE>u*n£U&iTA    r  ttuiu   vjruaaujc.it.  uc/  v_/u.  —             —  v^i.  — 

1845. 

1 

1845. 

1 

Aug.9. 

To  Cash,            '     • 

4 

3 

25 

Ag.ll. 

By  Chas.  A.  Elliot, 

5! 

500 

00 

a  20. 

n  Sundries,  f 

6 

1121 

75 

„   20. 

n  Sundries, 

6 

625 

00 

$ 

|  1125 

00 

$ 

1L25 

00     , 

1845. 
Ag.  12. 
»    27 

i   29. 

To  Merchants'  Bank, 
n  Cash, 
n  Sundries, 

5 
4 

7 

S 

800 
11 
418S 

75 
00 

1845. 
^g.27. 

By  Bills  Receivable, 
//  Cash, 

7 
3 

9 

3000 
2000 

00 
00 

OC 

=5 

/ 

5000 

5000 

-Dr.- 


•MERCHANDISE  Co. 


184-5. 
Sept.  2. 

/'         O. 

«  17. 


To  Cash, 
n  J.  T.  Pearce, 


321 


3000  1)0 


3679 


7000  00 


00 


00 


1845. 
Sep  17. 


By  Cash, 


NOTE. — The  above  accounts  are  all  representative  of  the  property  held  in  trust  by 
the  Merchant. 

44 


1845. 
Ag.14. 
//     n 

""""  *  '"  WV""-V11 

To  Merchandise, 
_^-Caalk_      _-.. 

5 
4 
11 

$ 

3000 
Iff 

340 

00 
00 
00 

1845. 
Ag.30. 

By  Johnson  &  Co: 

7 

3500 

on 

sepgo. 

n  Profit  «  LoSF, 

3500 

00 

1 

3500 

00 

-Dr. 


-SHIPMENT  TO  BARBADOES  Co.  A.- 


1845. 
Ag.  16  I  To  Sundries, 


5     55000 


y!845. 
Sep30. 


I  By  Merchant, 


I  111    5500100 


-Dr. 


SHIPMENT  TO  LIVERPOOL  Co.  B.- 


-Cr.- 


1845.  1   1845.  I     *•        C  4  -|l  I 

Ag.2Q.|To  Sundries,  |  6ll  3520|oo|Sep30.IBy  Merchant,  s     -  \\\\\  352^00 

NOTE. — The  above  accounts  are  all  representative  of  the  Merchant. 


x/t.  AiiUHAKi)    UKVV1&.  —  V»l.  

1845. 

; 

Ag.  16. 

To  Shipment  Co.  A. 

5500 

00 

Ag.  16. 

By  Sundries, 

5 

iGOG^u* 

Sept.2. 

n  Ship  Alabama, 

5000 

00 

„  18. 

n  Cash, 

3 

£ooo'on 

„  21. 

n  Bills  Receivable.. 

6 

1000  00 

Sept.2 

n  Merchandise, 

8 

"3500  Od 

S 

10500 

00 

$ 

10500  01  1 

A*i  .                                                          JUitiM     -TAUiXUUC.    «/    \>U.  V^l. 

1845. 
Ag.23. 
Sep  13. 

To  Bills  Payable, 
n  Johnson  <fe  Co: 

7 
9 

# 

2000 

1888 

00 
7.3 

1845.  1 
Ag.29.JBy  Net  sales  consgt. 

i 

—  . 

,|3888 

j 

7.': 

1  3888 

75 

S 

3888 

7fl 

l^r.  JOttK    A  .  .1  .C.AUC  li.  \J[.  

11457 

1845. 

Ag.20. 

Sep  20. 

To  Sundries, 
//  Merchandise, 

6 
9 

3520 
3000 

00 

00 

Sept.  3. 

,;  17. 

By  Merchandise  CoP 
n            do.          „ 

8 
9 

3000 
3339 

OC 

5(t 

»  30. 

„  Bills  Payable, 

10 

2000 

00 

»  30. 

»  Merchant, 

11 

2180 

5fl 

8 

8520 

00 

$ 

8520 

00 

.in 

1*45. 
Ag.20. 

To  Sundries,                6 
[« 

3520 

00 

1845. 

Ao-  91 
.rtg.  ii. 

Sep  30. 

By  Cash, 
//  Merchant, 

— 

3 
11 

9 

3300 
220 

CKJ 

00 
00 

•—    -  —•  ' 

3520 

00 

3520 

„«. 

1845. 
Ag.21. 

n   25. 

»  27. 
Son  10. 

*  30. 

To  Cash, 
w  Bills  Receivable, 
w  Cash, 
//  Farm  in  Frmgm. 
//  Cash, 

? 

4 

8 

G 

3300 
1857 
2000 
4500 
4000 

00 
50 
00 
GO 
00 

1845. 
Ag.25. 
Sept.  8. 
„  15. 
„  29. 
„  30. 

By  Cash, 
„  Gossler  &  Co: 
„  Cash, 
^  Expense, 
»  Merchant, 

3 

8 
5 
10 
11 

$ 

n 

2000 
3000 
1000 
300 
9357 

00 
00 
00 
00 
56 

15657 

56 

15657|56 

rxt.  —                                     —  tvuA.<    znuuuuni.  —                                      —  w*. 

1845. 

«  lfj!' 

To  B.  F.  Brooks, 
w  Henry  Braun, 

if 

f/!|  1000 

00 

00 

T8T5T 
Sept.  5. 
„  30. 

By  B.  F.  Brooks, 
n  Henry  Braun, 

I 

5i 

| 

1000 
2000 

00 
CO 

$\\  3000 

00 

3000 

00 

=rn: 

NOTE.— 


representative  of  the  Merchant 


11 


1845. 

1845. 

Ag.25. 
Sep  13. 

To  Bills  Receivable, 
n  Cash, 

7 
6 

42 
1 

44 

33 

Sep  15. 

»  27. 

By  BiUs  Receivable, 

9 

10 

31 
5 

00 
25 

n  30. 

n  Cash, 

5 

.  3 

67 

/ 

n    „ 

//  Profit  &  Loss, 

11 

3 

85 

4    ..'  ,'.         = 

$ 

43 

77 

$ 

—  = 

43 

— 

77 

= 

1845. 

1845. 

V 

J'ly   1. 

*     19. 

To  Cash, 
//  Merchants'  Bank, 

2 
2 

200 
150 

00 
00 

Aug. 
Sep  30. 

By  Sundries,  '  *"  * 
//  Profit  &  Loss, 

DB 
11 

6 
1020 

00 
81 

Aug. 

_//  Sundries, 

CB 

197 

00 

/ 

Sep  29. 

//  Globe  Bank, 

10 

300 

00 

/ 

W         II 

n  Cash, 

CB 

179 

81 

/ 

$ 

1026 

81 

$ 

1026 

81 

• 

1845.  j 

1845. 

Sep30.'To  Profit  &  Loss, 

11 

443 

12 

Ag.18. 
„   20. 

By  Johnson  &Co's  ct. 
//  GossleFfc  Co's   // 

6 
6 

165 

28 

00 
12 

i                           / 

n   29. 

n  Munroe  &  Co's  n 

7 

250 

00 

$ 

443 

12 

$ 

443 

12 

j 

1845. 

Sop  30. 

To  Profit  &  Loss, 

/ 

1 

145 

00 

Ag.  18. 
n  20. 
H  29. 

By  Johnson  &Co's  ct. 
//  Gossler  &  Co's   n 
n  Munroe  &  Co's  // 

6 

(> 

7 

82 
12 
50 

^^  . 

$i 

145 

00 

% 

|     145 

NOTE,— The  above  accounts  are  all  representative  of  the  Merchant. 


-Dr.- 


SUSPENSE. 


•Cr. 


1845.  I  1840.1 

SepSO.ITo  Merchant,  ]ll|    5000|00|Aug.2.| By  Bills  Receivable,  |  4||  500000 . 

NOTE. — This  account  is  representative  of  the  Merchant  for  the  property  held  intrust 


1845. 

1845. 

J'ly21. 

*   23. 

To  T.  C.  Grattan, 

a  cash; 

2 
2 

450 
20 

00 
00 

Sep  17. 
,  n    30. 

By  Merc'dise,  Co.  P. 
n  Sundries, 

9 
11 

339 
5113 

5C 

Aug.  2. 

»  Merchants'  Bank, 

4 

500 

00 

//    n 

»  Cash, 

4 

200 

00 

SepSO. 

n  Sundries, 

11 

4282 

62 

•;,  -  '  J.- 

i 

5452 

62 

• 

1 

5452 

6? 

=r 

NOTE. — This  account  is  representative  of  the  Merchant. 


1845. 

1845. 

July  1. 

To  Sundries, 

1 

6300 

OC 

July  1. 

By  Sundries, 

1 

42700 

00 

.,   31. 

»  Cash, 

2 

100 

00 

„  28. 

it        n 

3 

9500 

00 

Ag.30. 

it       n 

4 

150 

00 

n    n 

n  Cash, 

1 

500 

00 

SepSO. 

fl>       » 

6 

2QO 

00 

SepSO. 

n  Sundries, 

11 

32799 

6,", 

~£ 

km  Sundries, 

ai 

82007 

;39 

/?    tf 

n  Profit  &  Loss, 

11 

3257 

96 

—  Ea-a—  ^: 

$ 

88757 

59 

1 

88757 

59 

•£TO 

TRIAL  BALANCES, 

O 


JYial  Balance  for  July.  1845. 


POLIO. 

Dr. 

o.< 

1 

Real  Estate  at  Roxbury, 

5200 

00 

1 

Ship  Alabama, 

15000 

00 

1 

Merchandise, 

17426 

00 

3200  00 

2 

Cash, 

3600 

00 

344(i;CH) 

2 

Merchants'  Bank, 

12950 

00 

2250  00 

3 

Bills  Receivable, 

4S50 

00 

1950KW 

3 

Philo  S.  Shelton, 

1000 

00 

SCO  00 

3 

George  Hallett, 

1000 

00 

3 

Henshaw^  Ward  &  Co. 

500 

00 

500|o<'> 

3 

4 

Benjamin  Rich  &  Son, 
Thomas  Cobbler  Grattan, 

500 
500 

00 
00 

3000-') 
fiOOJttt 

4 

A.  &  A.  Lawrence  &  Co: 

2800 

00    300000 

4 

Gossler  &  Co: 

250000 

4 

Theodore  Chase, 

300 

00 

300K  0- 

5 
5 

Bills  Payable, 
George  Anderson  &  Co: 

1000 
3000 

00    6270;00 
001  3000,00 

5 
6 

Nathaniel  C.  Woodman, 
Lucian  B.  Brooks, 

150 

00 

15000 

6 

Thomas  L.  Kayner, 

100 

00 

6 

Estate  of  the  late  James  H.  Comer, 

1&550 

00 

6 
6 

B.  &  P.  Rail  Road  Stock, 
N.  E.  Bank  Stock, 

-£500 
5250 

00 
00 

7 

House  &  Lo*.  No.  11  Williams  Street, 

5070 

OOii 

7 

Farm  in  Framingham 

4500 

odl 

11 
12 

Expense,  v 
Merchant, 

350 
6400 

00 

00 

52700 

CM 

12 

Profit  &  Loss, 

470 

00 

$ 

97416 

00 

97416*00 

proof.  

Amount  of  Day  Book  Addition,                     $ 

90570 

00 

//         n  Cash  Received, 

3400 

00 

i 

//         n      n     Paid, 

3446 

00 

974115 

(KJ 

m 

Trial  Balance  for  August^  1845. 


FOLIO. 

Di. 

Cr. 

-  -n-m 

1 

Real  Etoate  at  Roxbury, 

300 

00 

3000 

00 

1 

Ship  ^H)ama, 

1200  00 

1 

MerdBnaise, 

200 

00 

1158100 

2 

CajpT 

17181 

00 

17075 

00 

2 

Merchants'  Bank, 

5900 

00 

12065 

00 

3 

Bills  Receivable, 

11500 

00 

1900 

00 

3 

George  Hallett, 

1000 

00 

3 

Benjamin  Rich  &  Son, 

200 

00 

4 

Gossler  &  Co: 

300 

00 

1079 

63 

4 

Joseph  Comer, 

2900 

00 

5 

Bills  Payable, 

2100 

00 

7670 

00 

5 

Nathaniel  C.  Woodman, 

,  * 

100 

00 

5 

Lucian  B.  Brodks, 

900 

00 

6 

Thomas  L.  Rayner, 

500 

00 

600 

00 

7 

House  &  Lot  No.  11  Williams  Street, 

100 

00 

7 

Farm  in  Frafhingham, 

250 

00 

400 

00 

7 

Johnson  &  Co: 

4500 

00 

2844 

50 

7 

Real  Estate  at  Newton, 

5500 

00 

8 

Consignment  from  Johnson  &  Co: 

3300 

00 

3300 

00 

8 

Consignment  from  Gossler  &  Co: 

U25 

00 

1125 

00 

8 

Consignment  from  John  Munroe  &  Co: 

5000 

00 

5000 

00 

9 

Shipment  to  Johnson  &  Co: 

3160 

00 

3500 

00 

9 

Shipment  to  Barbadoes  Co.  A. 

5500 

00 

9 

Shipment  /to  Liverpool  Co.  B. 

0520 

00 

9 

Richard  Lewis, 

5500 

00 

7000 

00 

9 

John  Muoroe  &  Co: 

20QQ 

00 

3SS8 

75 

10 
10 

John  T.  Pearce      ^—  —  •  -^__ 

JJ520 
3520 

00 
00 

3300 

00 

Addison  Beifcnap, 

10 

Globe  Bank, 

7157 

56 

2000 

00 

11 

Interest, 

42 

44 

II 

Expense,     —                  •—  —   -*-- 

197 

00 

6 

00 

11 

Commission, 

443 

12 

11 

Guaranty, 

145 

00 

12 

Suspense   ^                                — 

5000 

00 

12 

Merchant, 

150 

00 

12 

Profit  &  Loss, 

700 

00 

$ 

95523 

00 

95523 

00 

Proof.  

Amount  of  Day  Book  Additions,                     $  61267 

00 

"         n  Cash  Received, 

17181 

00 

n        n      .•>     Paid, 

m^ 

17075 

00 

95523 

00 

Trial  Balance  for  September^  1845. 


fOLIO. 

Dr. 

Cr. 

1 

Real  Estate  at  Roxbury, 

2500 

00 

1 

1 

Ship  Alabama, 
Merchandise, 

370ft 

00 

5000 
5930 

00 
00 

2 

Cash, 

15933 

67 

154S5 

39 

2 

Merchants'  Bank, 

5500 

00 

5000 

00 

3 

Bills  Receivable, 

7136 

25 

500 

00 

3 

Philo  S.  Shelton, 

200 

00 

4 

A.  &  A.  Lawrence  &  Co: 

200 

00 

4 

Gossler  &  Co: 

3000 

00 

4 

Joseph  Comer,     - 

2000 

00 

5 

Bills  Payable, 

2500 

00 

2000 

00 

5 

Lucian  B.  Brooks, 

600 

00 

6 

B.  &  P.  Rail  Road  Stock,  4 

400 

00 

6 

N.  E.  Bank  Stock,— 

200 

00 

7 

7 

Farm  in  Fmminrrhflm,  -        — 

4500 

1888 

00 
75 

Johnson  &  Co: 

233 

25 

7 

Real  Estate  at  Newton, 

50 

00 

3600 

00 

8 

Merchandise  Co.  P. 

7000 

00 

7000 

00 

9 

Richard  Lewis, 

5000 

00 

3500 

00 

9 

John  Munroe  &  Co: 

1SS8 

75 

10 

John  T.  Pearce,  

5000 

00 

6339 

50 

10 

Globe  Bank, 

8500 

00 

4300 

00 

10 

Loan  Account, 

3000 

00 

3000 

00 

11 

Interest,  _ 

-4 

33 

39 

92 

11 

Expense, 

479 

81 

12 

Profit  &  Loss, 

339 

50 

12 

Merchant, 

200 

00 

$ 

71823 

06 

71823 

06 

Proof.  

Amount  of  Day  Book  Additions,                    $ 

40404 

00 

n      >t  Cash  Received, 

1593367 

n        n        n      Paid,                                                      $ 

154S5 

39 

71823 

06 

Quarter 


'erly  Account  of  Balances  taken  for  the  purpose  of  exhibiting 
at  one  view  the  state  of  the  Merchant's  affairs. 


VQ.J). 

Dr. 

Cr. 

1 

Real  Estate  at  Roxbury, 

5000 

00 

1 

Ship  Alabama, 

880000 

1 

L                                                         * 

Merchandise, 

61500 

2 

Cash, 

70S|28 

2 

Merchants'  Bank, 

503500 

3 

Bills  Receivable, 

19136 

25 

4 

Gossler  &  Co:- 

279 

63 

5  Bills  Payable^  

10340 

00 

5|  Nathaniel  C.  Woodman, 
5  Lucian  B.  Brooks, 

5000 
150,00 

6 

Estate  of  the  late  James  H.  Comer, 

16550 

00 

6 

B.  &  P.  Rail  Road  Stock, 

5100'00 

6 

N.  E.  Bank  Stock, 

5050  00 

7 

House  &  Lot  No.  11  Williams  StreeU 

497000 

7 

Farm  in  Framingham, 

15000 

7 

Real  Estate  at  Newton, 

1950 

00 

9J  Shipment  to  Johnson  &  Co: 
9,  Shipment  to  Barbadoes  Co.  A. 

550000 

340 

00 

9 

Shipment  to  Liverpool  Co.  B. 

3520;00 

10 

John  T.  Pearce, 

2180,50 

10 
10 

Aildison  Belknap, 
r»i  u    T>     i 

22000 
9357^56 

Ulobe  Bank, 

11 

Interest, 

3 

So 

11 

Expense, 

1020 

81 

11 

Commission, 

443 

12 

11 

Guaranty, 

145 

1     KW 

00 

12 

o  1or.or%0 

• 

5000 

00 

oiispenso, 

12 

Profit  &  Loss, 

830 

50 

i2 

Merchant, 

45950 

00 

$ 

79197 

75 

79197 

75 

• 

N 

M 

If  I  should  be  called  upon,  in  my  capacity  of  an  Accountant,  to 
these  books ;  in  stating  the  result  of  my  investigations,  I  should  make 
the  following 

REPORT. 

After  a  careful  examination  of  the  Books  of  "  Merchant," 
I  find  that  the  total  amount  of  his  property  or  assets  on  the 

30th  September,  1845,  was,  $82,007.59 

That  the  amount  of  his  liabilities  at  the  same  time,  was,          32,799.63 


Leaving  the  net  assets,  $49,207.96 

1  find  that  the  total  amount  of  the  property  with 

which  he  commenced  business  on  the  1st  July, 

was,  $42,700.00 

Less  the  amount  of  his  liabilities,        $6,300.00 

and  less  this  amount,  lost  by  the 

failure  of  T.  C.  Gratlan,which  was 

counted  amongst  the  assets  as  good,        450.00 6750.00 

Leaving  the  net  capital,  $35,950.00 

To  which  is  to  be  added,  the  Legacy  received 

from  the  Executors  of  the  late  John  Heron, 

amounting  to  10,000.00    45,950.00 

Leaving  the  net  Gain,  $3,257.96 

GEOEGE  N.  COMER, 

Accountant . 

17  State  Street,  Boston, 
1st  October,  1S45. 


BILL 


Date. 

No 

la 

From  whom  Received. 

Endorsers. 

On  what  account. 

1845. 

May  26. 

1 

.2 

•£   * 

John  Farquhar, 

William  G.Edwards, 

Merchandise, 

June  11. 

2 

c  ** 

<U    c 

Samuel  Rice, 

John  Hassam, 

Money  lent, 

»   12. 

3 

u-1 

William  M.  Wallace, 

Matthew  Bolles, 

Railroad  Stoc*, 

»   18. 

4 

ff 

J.  M.  Atkins,  Junr. 

Merchandise, 

1° 

July   3. 

5 

sj 

Lombard  &  Whit  more, 

Merchandise, 

r,    21. 

6 

Jl 

Firkin  Chesley, 

E.  A.  Grattan, 

T.  C.  Graitan, 

»  26. 

7 

|l 

Henry  Hilt, 

Merchant, 

His  accommodation 

31. 

8 

S'S 

Charles  Walker. 

Peter  Evans, 

J.  II.  Comer's  Estate 

1 

Bate. 

No 

fl 

To  whom  Payable. 

Endorser!. 

On  what  account. 

1845. 

June  16. 

1 

.2 

Bates  &  Co: 

Merchandise, 

»   17. 

2 

c  t: 

QJ  a 

Benjamin  F.  Brooks, 

Real  Estate, 

"*~"5 

July   7. 

3 

|f 

Wm.  Appleton  &  Co: 

Merchandise, 

*   12. 

4 

James  Savage, 

My  acceptance, 

G.Anderson&Co'sdft 

»   18. 

5 

I| 

Bates  &  Co: 

Former  Note, 

»  22. 

6 

i^ 

State  M.  Ins.  Company 

Estate  at  Roxbury, 

^*"S 

*  26. 

7 

12 

Henry  Hilt, 

His  accommodation, 

*  31. 

8 

°  "* 

Firemen's  Ins.Comp'ay 

Est.  in  Williams  St 

BOOK. 


JLW      W     \S     V. 

Time. 

When  Due                                          j|  Amount. 

Remarks. 

Jan. 

Feb. 

Mar. 

April 

May 

June 

July. 

Aug. 

Sep. 

Oct. 

NOT. 

Dec.  ||  Dolls. 

Ct. 

60  d'ys 

% 

250 

00 

Merchant's  col. 

60     n 

% 

400 

00 

do.        do. 

11  / 

60    // 

1300 

00 

do.       do 

4  mo. 

18/ 
A 

1050 

00 

3000 

00 

6    » 

% 

1000 

00 

6      n 

% 

50 

00 

Doubtful. 

60  d'ys 

24/ 
A 

500 

00 

Renewed, 

6  mo. 

31 

3 

300 

00 

1 

Pay 

Time. 

,11,. 

When  Due.                                       ||  Amount. 

J 

Remark*. 

Jan. 

Feb. 

Mar. 

April 

May. 

June 

July. 

Aug. 

Sep. 

Ocl. 

NOT.  1  Dec.  I]  Doll9.  Ct. 

4  mo. 

% 

1000 

00 

Cancelled. 

12  ,, 

• 

1W8. 

1500 

00 

2500 

00 

6     ti 

Xo 

600 

00 

20  d'ys 
3  mo. 

Yl 

% 

2000 
500 

00 
00 

Pd.  at  Suffolk 

on  d'd. 

100 

00 

Returned. 

60  d'ys 
on  d'd. 

% 

500 
70 

OOpd.atShawm'i 

1 

67 


EXPLANATIONS  OF  DAY  BOOKltNTRIES, 

WITH  DIRECTIONS  FOR  POSTING. 

(Explanations  of  Cash  Book  entries  will  he  found  at  the  end  of  these  explanations  lot 

this  month.] 

1st  July. 

IN  the  first  part  of  this  entry  the  Merchant  is  at  once  credited  in  the 
Ledger  with  the  total  amount  of  his  property,  $42,700,  and  each  item 
of  that  property  is  debited  with  its  respective  amount.  For  a  more  clear 
understanding  of  this  principle,  apply  Rule  1st,  and  examine  these 
accounts  in  the  Ledger.^ 

In  the  second  part  of  the  entry  the  Merchant  is  debited  with  the  total 
imount  of  his  debts,  $6,300,  and  each  of  the  parties  to  whom,  he  is 
indebted  are  credited  for  their  respective  amounts.  Rule  2nd. 

NOTE. — The  accounts  of  Bills  Receivable  and  Bills  Payable  are  open- 
ed for  the  purpose  of  classifying  all  the  notes  receivable  and  payable 
under  one  head,  to  save  the  unnecessary  labor  and  inconvenience  of  I 
having  an  account  opened  with  each  party  to  whom  you  have  given  your 
note,  or  whose  notes  you  may  hold,  as  the  case  may  be. 

2nd. 

Having  sold  A.  &  A.  Lawrence  &  Co:  Merchandise  to  the  amount  of 
SSOO,  I  at  once  post  that  amount  to  their  debit ;  and  give  Merchandise 
credit  fpr  the**same  sum ;  because,  A.  &  A.  Lawrence  &  Co:  were  the 
receivers  and  Merchandise  was  the  thing  delivered.  Rule  3d. 

NOTE. — Instead  of  posting  each  item  of  Merchandise  at  the  time.  I 
collect  all  the  debits  and  credits  of  Merchandise  at  the  end  of  the  month, 
*nd  post  the  total  sum  in  one  line,  instead  of  making  a  great  many 
entries.  See  example  at  the  end  of  the  explanation3  for  this  month. 
The  same  method  may  be  adopted  with  each  of  the  representative 
accounts ;  but  the  total  amount  of  every  separate  charge  or  credit  to  a 
personal  account  should  appear  on  the  Ledger.  This  method  gives  the 
Book-keeper  all  the  advantages  of  the  Journal  without  its  drawbacks. 

3rd. 

In  this  entry  the  Merchant  sold  Lombard  &  Whitmore,  Merchandise, 
and  received  in  payment  their  note.  This  transaction  is  so  similar  in  its 
general  features  to  the  previous  one,  and  as  the  same  rule  applies  to  it, 
I  deem  further  explanation  unnecessary.  If,  however,  the  student 
should  be  at  a  loss,  the  marginal  figures,  referring  to  the  pages  in  tho 
Ledger,  at  the  left  hand  of  the  day  book  entries,  will  direct  him  to  find 
the  different  accounts  to  which  the  transaction  is  posted. 

NOTE. — I  adopt  the  same  method  of  posting  the  Bills  Receivable  and 
Bills  Payable  accounts,  as  that  of  the  Merchandise  account,  explained  in 
die  previous  entry. 


6th. 

Having  bought  Merchandise  from  Gossler  &  Co:  to  the  amount  of 
$2000,  Merchandise  is  debited  $2000,  and  Gossler  &  Co:  are  credited 
82000.  Rule  3rd. 

t7th.. 
rchandise  of  William  Appleton  &  Co:  to  the  amount 
of  $800,  and  paid  them  by  my  note  $600,  and  the  balance  in  Cash,  it 
would  be  useless  to  open  any  account  with  William  Appleton  &  Co: 
because  the  transaction  is  settled,  and  the  first  record  is  sufficient.  I 
debit  Merchandise  with  only  $600  f^om  the  day  book,  and  credit  Bills 
Payable  $600.  The  balance,  $200,  having  been  paid  in  Cash,  will  be 
carried  to  the  debit  of  Merchandise  and  the  credit  of  Cash,  in  posting 
from  the  Cash  Book — see  Rule  3rd  and  examine  the  Cash  Book  and 
Ledger  entries.  The  object  of  inserting  at  the  foot  of  the  day  book 
entry,  "  Balance  as  per  C.  B."  was  to  show  that  the  transaction  was 
settled,  and  to  guard  the  Book-keeper  from  opening  an  account  with 
Appleton  &  Co. 

8th. 

Apply  Rule  3rd  and  see  entry  of  the  5th  instant. 

10th. 

It  appears  that  the  duties  and  freight  on  the  Merchandise  imported 
from  Demerara  was  paid  by  checks  on  the  Merchants'  Bank.  The 
Bank,  therefore,  being  the  deliverer,  is  credited  with  the  amount  of  the 
Checks,  and  Merchandise,  the  thing  received  or  benefited,  is  debited 
with  the  same  amount ;  because  it  cost  this  sum  to  import  the  Merchan- 
dise in  addition  to  its  original  cost.  Rule  3rd.  X 

J2th. 

George  Anderson  &  Co:  having  drawn  a  draft  upon  the  Merchant 
payable  to  James  Savage,  20  days  after  sight,  which  the  Merchant  hav- 
ing accepted,  and  thereby  made  it  his  own  bill  payable,  George  Ander- 
son &  Co:,  the  receivers,  are  debited,  and  Bills  Payable  is  credited  for 
the  thing  delivered.  Rule  3rd. 

14th. 

By  this  entry  it  appears  that  the  Merchant  gave  Nathaniel  C.  Wood- 
man an  order  upon  Lucian  B.  Brooks  for  Merchandise  to  the  amount  of 
8150.  Woodman  the  receiver  is  debited,  and  Brooks  the  deliverer  is 
credited.  Rule  3rd. 

NOTE. — The  old  Journal  method  of  recording  this  transaction  would 
have  been,  to  debit  Woodman  and  credit  Merchandise — and  debit  Mer- 
rhandise  and  credit  Brooks ;  evidently  a  round-about  way  of  arriving  at 
the  same  result. 

16th. 
Apply  Rule  3rd,  and  see  entry  of  the  2d  instant. 

18th. 

Bates  &  Co:  held  the  Merchant's  Note  for  $1000,  which  he  took  up 
bafore  maturity,  by  selling  them  Merchandise  to  the  amount  of  $500, 


and  giving  his  note  for  the  balance,  $500.  Bills  Payable,  the  thing 
received,  is  debited  $1000.  Merchandise  and  Bills  Payable,  the  things 
delivered,  are  each  credited  $500.  Rule  3rd. 

19th. 

In  this  case  the  Bank,  the  deliverer,  is  credited jVand  Expense,  the 
thing  received-,  is  debited. 

NOTE. — The  outlay  for  insurance  is  one  of  the  expenses  of  doing  busi- 
ness, and  the  Merchant  is  properly  the  debtor ;  but  in  order  to  see  each 
item  of  expense  at  a  ^'ew,-  the  expense  account  is  opened  for  that  pur- 
pose, and  is  closed  by  carrying  the  balance  to  the  Profit  and  Loss  account, 
which  in  its  turn  is  carried  to  the  Merchant's  account. 

In  the  second  part  of  the  entry  the  Bank,  the  receiver,  is  debited,  and 
Bills  Receivable,  the  thing  delivered,  is  credited.  Rule  3rd. 

21st. 

T.  C.  Grattan  having  failed,  compounds  his  debt  to  the  Merchant  of 
$500,  by  giving  him  Firkin  Chesley's  note  at  6  months  for  ten  per  cent 
of  the  debt.  BillsrReceivable  is  debited  for  the  note  received,  S50. 
Rule  3rd.  Profit  and  Loss  is  debited  for  the  loss  $450 ;  Rule  5th.  And 
T.  C.  Grattan,  the  deliverer  of  the  note  and  the  party  by  whom  loss  has 
arisen,  is  credited  the  whole  amount,  $500.  Rules  3rd  and  5th. 

22nd. 

Real  Estate,  the  thing  received  or  benefited,  is  debited,  and  Bills  Pay- 
able, the  thing  delivered,  is  credited.  Rule  3rd. 

23rd. 

George  Anderson  &  Co:,  the  receivers,  are  debited,  and  Merchants' 
Bank,  the  deliverer,  is  credited.  Rule  3rd. 

25th. 

Estate  of  James  H.  Comer  is  credited  for  the  amount  delivered, 
$15,750,  and  each  of  the  things  received  are  debited  with  their  respective 
amounts,  namely  B.  &  P.  Railroad  Stock,  $5500;  N.  E.  Bank  Slock, 
S5250;  House  and  Lot' No.  11  William  Street,  $5000.  Rule  3rd. 

26th. 

Bills  Receivable,  fhe  thing  received,  is  debited,  and  Bills  Payable,  the 
thing  delivered,  is  credited.  Rule  3rd. 

28th. 

In  this  entry  the  Merchant  receives  property  to  the  amount  of  $9,500, 
for  which  he  has  not  delivered  any  equivalent,  nor  has  he  made  any 
effort  or  outlay  by  which  profit  could  have  arisen  ;  it  is,  therefore,  a  clear 
addition  to  the  net  amount  of  his  property.  Farm  in  Framingham  and 
Merchants'  Bank,  being  the  portions  of  that  property  received,  are  each 
debited  for  their  respective  amounts  or  value,  and  the  Merchant  is 
credited  for  the  whole  amount  $9500.  Rule  1st. 

30th. 

Merchants'  Bank,  the  receiver,  is'  debited,  and  Bills  Recoi fable  ta 
credited  for  the  things  delivered.  Rule  3rd. 

31st. 

Apply  Rule  3rd,  and  see  entry  of  the  22d  instant 

61 


Method  of  collecting  the  different  items  of  representative  accounts,  so  as 
to  post  the  whole  amount  for  the  month  in  one  line  in  the  Ledger. 


Dr. 

Day  book  page 

1  $2000 

1  600 

2  3000 
2     1100 

Total  amount  bought,  $6700 

Dr. 

1  1000 

2  50 

3  500 
3 300 

Total  Received,  $1850 

Dr. 

Total  Received,  1     1000 


Merchandise,  Cr. 

Day  book  pa°fe 

1  $  SOO 

1  1000 

2  100 
2      500 

Total  amount  sold,  $2400 
Bills  Receivable,  Cr. 

2  250 

3  1700 

Total  delivered,  $1950 


Bills  Payable, 


Cr. 

600 

2000 

500 

100 

500 

70 


Total  amount  delivered,  $3770 


Explanation  of  the  Cash  Book  entries,  with  directions  for  Posting. 

THIS  BOOK,  as  its  title  implies,  is  devoted  to  Cash  transactions  only, 
and  ought  to  contain  a  faithful  record  of  those  transactions  entered  at  the 
date  of  their  occurrence.  All  sums  received  should  be  entered  at  the 
time  of  their  receipt,  in  a  clear  and  perspicuous  manner,  on  the  debtor  or 
left  hand  side  of  the  book ;  and  all  sums  paid  should  be  similarly  entered 
on  the  credit  or  opposite  side  of  the  book.  In  all  mercantile  houses  it  is 
customary  and  right  to  balance  the  cash  every  evening.  In  this  set  of 
books,  the  dates  being  widely  apart,  I  have  only  balanced  the  account  at 
the  end  of  the  month ;  but  by  reference  to  the  small  type  between  the 
lines  on  the  credit  side,  it  will  be  seen  what  was  the  balance  of  Cash  on 
hand  each  day,  which  method  may  be  adopted  in  any  set  of  books,  or  by 
adding  another  column  for  dollars  and  cents,  the  balance  may  be  struck 
each  day  and  then  finally  balanced  at  the  end  of  the  month. 

The  first  entry  which  I  come  to  on  the  debtor  side,  is  the  cash  on 
hand,  as  per  day  book  schedule,  which  having  been  posted  from  the  day 
book  to  the  debit  of  Cash  on  the  Ledger,  of  course  is  not  to  be  posted  again. 
The  next  entry  is  Cash  received  for  Merchandise,  this  is  posted  directly 
to  the  credit  of  Merchandise,  but  instead  of  posting  each  item  separately, 
1  collect  all  the  items  of  this  account  through  the  month  and  post  them 
in  ono  sum ;  the  same  course  may  be  adopted  with  propriety  in  all  the 

62 


representative  accounts.  All  sums  received  from  individuals  who  Have 
or  are  to  have  accounts  on  the  Ledger  I  post  to  the  credit  of  their  respec- 
tive accounts  at  the  date  of  occurrence,  or  as  soon  after  as  convenient. 
At  the  end  of  the  month  I  post  the  total  amount  received  to  the  debit  of 
Cash  on  the  Ledger.  I  treat  the  credit  side  in  precisely  the  same  man- 
ner, namely,  post  all  sums  paid  out  to  individuals  having  accounts  on 
the  Ledger  directly  to  their  debit,  and  all  sums  paid  out  for  Merchandise, 
or  on  any  other  representative  account,  to  the  debit  side  of  that  account 
on  the  Ledger  in  one  sum  at  the  end  of  the  month.  The  total  amount 
paid  out  I  post  to  the  credit  of  Cash.  The  philosophy  of  this  course  will 
be  easily  seen  by  the  reflecting  student.  Cash,  the  thing  received,  is 
debited  on  the  Ledger  in  one  sum  for  the  whole  amount  received  during 
the  month,  and  each  party  or  thing1  on  whose  or  which  account  Cash  has 
been  received,  is  credited:  Rule  3d.  Cash,  the  thing  delivered,  is  in 
like  manner  credited  for  all  sums  paid  out,  and  each  party  or  thing  on 
whose  or  which  account  Cash  has  been  paid  is  debited  for  the  amount 
of  such  payment :  Rule  3d. 

The  figures  in  the  column  marked  LF,  Ledger  Folio,  indicate  the 
page  on  the  Ledger  where  the  account  to  which  the  item  is  posted  is  to 
be  found. 

It  will  be  perceived  that  the  Cash  Account  is  kept  entirely  distinct  and 
separate  from  the  Banking  Accounts ;  the  propriety  of  this  course  is  so 
obviously  manifest,  that  no  good  accountant  would  for  a  moment  think 
of  combining  them. 

On  the  Trial  Balance. 

AT  the  end  of  the  month,  the  whole  of  the  transactions  on  the  day 
book  and  cash  book  having  been  duly  posted,  a  trial  balance,  as  a  test  of 
tthe  accuracy  of  those  postings,  must  be  taken ;  for  this  purpose  rule  a 
'shee't  6T  paper  in  the  form  of  the  example  at  the  end  of  the  Ledger,  and 
proceed  to  put  down  in  regular  rotation,  the  names  of  every  account  on 
the  Ledger,  with  the  amount  oT  all  the  debits  and  credits  of  each  account 
for  the  month  for  which  the  trial  balance  is  taken ;  add  these  separate 
columns  up,  and  if  the  posting  has  been  correctly  done,  the  amounts  will 
agree  with  each  other ;  and  to  prove  that  those  amounts  are  correct,  take 
the  total  amount  of  the  day  book  addition,  together  with  the  amount  of 
cash  received  and  paid,  add  these  sums  together  and  the  amount  will  be 
found  to  correspond  with  the  total  amount  of  the  trial  balance.  The 
importance  of  the  trial  balance  is  so  obvious,  that  no  good  accountant, 
however  correct,  would  think  of  proceeding  with  posting  another  month's 
transactions,  until  he  had  first  ascertained  that  those  of  the  previous  oni 
had  been  correctly  posted,  by  means  of  the  trial  balance. 

63 


I  now  proc&d  to  give  explanations  of  such  entries  on  the  Day  Book  as 

are  entirerj^different  frow  any  of  those  in  the  preceding  month : 

**,  -  ^  2nd  August. 

IN  this  entry  the  Massachusetts  Hospital  Life  Insurance  Company,  for 
the  sum  of  $500  paid  to  them  by  the  Merchant,  undertake  to  pay  the 
Merchant's  assigns  at  his  decease  the  sum  of  8501P&,  and  issue  their 
Policy  to  that  effect,  which  must  be  classed  under  the  head  of  Bills 
Receivable;  although  it  never  could  be  received  by  the  Merchant,  still  it 
would  form  part  of  his  estate  at  his  decease,  and  isnnerefore  correctly 
classed  under  the  head  of  Bills  Receivable.  This  policy  the  Merchant 
holds  in  trust  for  the  benefit  of  his  assigns,  and  must  be  treated  precisely 
the  same  as  though  it  was  any  other  kind  of  property  of  which  he  \vas 
the  trustee.  See  entry  of  the 25th  July.  Bills  Receivable,  for  the  thing 
received  is  debtor,  and  the  parties  for  whom  it  is  held  in  trust  are  to  be 
credited,  but  as  they  are  not  yet  specified,  the  most  appropriate  account 
to  which  it  can  be  carried  is  Suspense.  The  premium  paid,  being  of  no 
personal  benefit  to  the  Merchant,  Profit  and  Loss  is  debited  and  Mer- 
chants' Bank  is  credited  for  the  amount. 

The  subject  of  Life  Insurance  is  awakening  such  general  and  deserved 
attention,  that  I  have  introduced  this  entry,  for  the  purpose  of  showing 
how  h  should  be  treated  in  the  books  of  the  party  assured.  The  Life 
Insurance  offices  in  this  country  are  conducted  upon  such  a  liberal  policy, 
that  I  conceive  it  to  be  the  duty  of  every  head  of  a  family  to  make  this 
wise  provision  against  the  uncertainties  of  life.  The  innumerable  cases 
of  almost  hopeless  litigation  which  have  occurred  in  England,  where  the 
individual  is  so  unable  to  cope  with  the  power  and  wealth  of  overgrown 
corporations,  that  in  nine  out  of  every  ten  cases  which  have  come  to  my 
knowledge,  the  expectants,  rather  than  enter  into  expensive  and  uncejr- 
tain  law-suits,  have  been  obliged  to  compromise  their  claims  for  a*  fraction' 
of  their  original  amount,  have  deterred  many  from  making  this  prudent 
arrangement ;  but,  in  this  country,  where  risks  are  promptly  paid,  the 
objection  does  not  exist,  and  I  urge  the  consideration  of  this  subject  upon 
the  attention  of  every  individual,  however  hufmble  his  station  in  society. 

5th. 

Real  Estate  at  Roxbury  having  been  partially  consumed  by  fire  to  the 
extent  of  $3000,  the  Insurance  Company,  in  payment  of  the  loss, 
return  the  Merchant's  note  and  give  their  check  for  the  balance.  As  I 
have  before  stated,  if  the  student  should  be  at  a  loss  to  find  what  accounts 
to  carry  the  different  portions  of  an  entry  to  ;  the  marginal  figures, 
referring  to  the  pages  of  the  Ledger,  will  point  out  the  accounts  to  which 
the  items  are  carried. 

6th.. 

In  the  first  part  of  this  entry  it  appears  that  a  check  was  given  foi 
freight,  &c.  of  Merchandise  consigned  to  the  Merchant  for  sale.  In  such 
case  not  any  credit  is  to  be  given  to  the  parties  sending  the  Merchandise, 
from  the  fact,  that  until  the  Merchandise,  or  some  part  of  it,  is  sold,  not 
anything  is  due  to  them.  The  Merchant  merely  holds  their  property  in 
trust,  and  retains  their  invoice  to  show  the  extent  of  his  responsibility. 

64 


As  soon  therefore,  as  any  payment  is  mane  on  account  of  such  consign- 
ment, a  representative  account  must  be  opened  on  the  Ledger,  under 
such  title  as  the  Merchant  may  deem  most  appropriate.  That  which  is? 
the  most  explicit  will  always  ho  ute  oest.  This  account  is  debited  from 
time  tu  ume  with  all  sums  expended  on  account  of  the  consignment,  and 
is  credited  from  time  to  time  with  all  sums  received  from  the  sale  of  any 
portion  of  the  Merchandise  consigned.  It  is  usual  when  all  the  Mer- 
chandise is  sold,  or  at  stated  periods,  to  render  an  account  sales — setting 
forth  the  amount  of  the  sales,  the  name  of  the  purchasers,  with  the  term 
of  credit,  &c.,  together  with  all  the  charges  and  expenses  in  effecting 
sales,  including  the  Merchant's  commission  ;  the  balance  is  the  net  pro- 
ceeds, and  the  representative  account  on  the  Ledger  is  closed,  by  trans- 
ferring the  amount  to  the  credit  of  the  consigner's  personal  account.  Thf 
student  will  find  forms  of  account  sales  in  the  proper  place. 

In  the  second  part  of  the  entry  a  check  is  given  to  take  up  a  draft 
drawn  by  the  consigners  upon  the  Merchant  at  sight,  agreeably  to  pre- 
vious arrangement.  This  sum  is  at  once  charged  to  Johnson  &  Co:  and 
their  draft  is  held  as  evidence  of  the  debt.  It  is  usual  to  accompany  the 
account  sales  with  an  account  current,  exhibiting  on  the  Dr.  side  all  the 
payments  made  or  responsibilities  incurred  for  the  correspondents  ir. 
question,  and  on  the  Cr.  side  the  different  receipts  on  their  account;  the 
interest  hiving  been  charged,  the  account  can  be  closed  by  carrying  the 
balance  to  new  account.  Specimens  of  Accounts  Current  will  be  found 
in  the  propar  place. 

8th. 

Lucian  B.  Brooks,  the  receiver,  is  debtor,  and  Consignment  from 
Johnson  &  Co:  is  creditor  for  the  thing  delivered. 

9th. 
See  second  part  of  the  entry  of  the  6th  instant. 

14th. 

In  this  entry  the  Merchant  consigned  Merchandise  to  Johnson  &  Co: 
for  sale.  For  the  reasons  mentioned  in  the  explanations  of  the  entry  of 
the  6th  instant,  a  representative  account  is  to  be  opened  on  the  Ledger 
and  charged  with  all  outlays  for  this  consignment,  and  upon  receipt  of 
the  account  sales,  it  is  credited  with  the  net  proceeds;  the  difference  of 
the  columns  shows  the  gain  dr  loss  on  the  transaction. 

16th. 

In  this  entry  the  Merchant  enters  into  a  joint  speculation  in  company 
with  Richard  Lewis.  For  the  reasons  previously  given,  the  Merchant 
opens  a  representative  account  on  the  Ledger,  which  is  debited  for  hi.-, 
half  of  the  total  cost  of  the  speculation  in  company,  and  Richard  Lewi:? 
is  debited  with  his  half  of  the  same.  The  Merchants'  Bank  and  Bilk 
Payable  ara  each  credited  with  their  respective  amounts,  and  Richard 
Lewis  is  credited  with  the  amount  put  in  by  him.  Upon  receipt  of  the 
account  sales  the  representative  account  Co.  A.  and  Richard  Lewis,  will 
each  be  credited  with  half  the  net  proceeds. 

18th. 
This  entry  more  fully  explains  the  remarks  made  upon  the  cntiy  ot 


the  6th  instant.  The  account  sales  having  been  made  out,  it  is  found 
'.hat  the  Consignment  is  debtor  to  Commission  for  effecting  the  sales — 
to  Guaranty  for  assuming  the  responsibility  of  the  purchasers,  and  to 
Expense  for  advertising — as  the  Merchant  pays  for  his  advertising  by 
the  year  it  is  classed  under  the  head  of  Expense,  and  this  amount  goes 
r.o  lessen  his  expense  by  so  much.  There  were  charges  previously  posted 
of  $203.50,  leaving  the  net  proceeds  to  be  carried  to  the  credit  of  John- 
son &  Co:  the  consigners,  which  closes  the  representative  account. 

25th. 

By  this  entry  it  appears  that  the  Globe  Bank  has  discounted  a  Bill 
Receivable  and  passed  the  amount,  less  the  discount,  to  the  credit  of  the 
Merchant.  Bills  Receivable,  for  the  thing  delivered,  is  credited,  and 
Globe  Bank  and  Interest  (for  the  discount)  are  debited  with  their  respec- 
tive amounts. 

NOTE. — Accounts  being  now  opened  with  two  Banks,  the  benefit  of 
keeping  these  accounts  entirely  distinct  from  the  Cash  account  is  fully 
demonstrated. 

3rd  September. 

John  T.  Pearce  having  shipped  Merchandise  to  the  Merchant  to  be 
sold  on  their  joint  account,  the  Merchant  charges  the  representative 
account  Co.  B.  with  the  half  of  tlife  first  cost,  and  credits  Pearce  with 
that  amount. 

4th. 

It  br-'rng  expected  that  Comins  and  Preble  would  pay  the  Cash  in  the 
course  of  a  few  days,  the  amount  was  not  carried  out  in  the  outer  column. 
This  method  should  be  adopted  with  every  entry  that  is  not  expected  to 
require  an  account  on  the  Ledger. 

15th. 

JoscDh  Coiner  paid  the  amount  he  owed,  S2000,  by  a  note  at  90  days, 
with  the  interest  added,  making  the  note  $2031.  Bills  Receivable,  for 
the  thing  received,  is  debtor,  and  Joseph  Comer  is  creditor  for  $2000, 
and  interest  for  $31. 

27th. 

Henry  Hilt  being  desirous  of  renewing  the  note  which  the  Merchant 
held  against  him,  the  Merchant  gave  a  check  to  take  up  that  note,  and 
received  Hilt's  note  for  the  amount  with  interest  added.  Bills  Receiv- 
able, the  thing  received,  is  debtor,  and  Merchants'  Bank  is  creditor  for 
$500,  and  Interest  for  $5.25. 

30th. 

Upon  examining  the  accounts  on  the  Ledger  of  B.  &  P.  Railroad 
Stock,  N.  E.  Bank  Stock,  and  House  in  Williams  Street,  it  appears  that 
there  has  been  a  gain  upon  each  of  them,  and  as  this  property  is  merely 
held  in  trust,  the  gain  or  loss  is  transferred  to  the  debit  or  credit,  as  the 
case  may  be,  of  the  parties  for  whose  account  it  is  held.  It  is  usual  in 
such  cases  to  charge  a  Commission  for  trnnsacting  the  business,  hut  in 
this  instance  no  Commission  has  been  charged. 


Upon  closing  tfte  Ledger. 

THE  Merchant  having  determined  to  wind  up  his  affairs  on  the  30th 
September,  and  the  whole  of  the  transactions  up  to  that  time  having  been 
dulv  entered  and  posted,  he  proceeds  to  take  a  Schedule  of  his  assets 
and  liabilities.  For  this  purpose  he  takes  an  account  of  the  Merchan- 
dise remaining  in  Store,  and  of  every  other  description  of  property  ;  he 
then  carefully  adds  up  every  account  on  the  Ledger,  putting  down  the 
amounts  in  pencil ;  the  difference  between  the  debit  and  credit  side  of  all 
personal  accounts,  and  all  representative  accounts  upon  which  profit  or 
loss  is  not  ascertainable,  shows  the  amount  due  to  or  from  the  Merchant 
upon  that  account.  Having  ascertained  these  amounts,  he  makes  him- 
self debtor  in  the  daybook  for  the  total  amount  of  his  assets — for  the 
reason,  that  on  commencing  business  he  was  credited  with  the  amount 
of  his  assets,  and  now  upon  closing  his  books,  he  takes  the  assets 
remaining  to  his  own  account  and  must  be  debited  therefor  ;  each  account 
upon  which  any  amount  is  due  to  the  Merchant  is  credited  with  its 
respective  amount.  The  Merchant  having  been  debited  with  his  debts 
at  the  commencement  of  the  business  is  now  credited  for  those  which  he 
may  owe  at  the  closing  of  the  books,  and  each  of  the  accounts  upon 
whL'h  any  amount  is  due  from  the  Merchant  is  debited  with  its  respec- 
tive amount.  This  will  be  more  clearly  understood  upon  reference  to 
the  day  book  entry. 

All  those  accounts  which  do  not  balance  of  themselves,  with  the  entries 
that  have  been  made,  are  to  be  closed  by  transferring  the  difference  to 
the  debit  or  credit,  as  the  case  may  be,  of  the  Profit  and  Loss  account, 
for  the  gain  or  loss  upon  that  account.  For  instance,  in  the  account  of 
the  Ship  Alabama,  it  is  found,  after  adding  the  present  value  of  the 
Merchant's  remaining  interest  in  the  Ship  to  the  credit  of  the  account, 
the  credit  side  shows  a  surplus  over  and  above  the  debit  side  of  $1200, 
whicti  is  profit,  and  to  close  the  account  Ship  Alabama  is  debited  with 
the  amount  of  gain  and  Profit  and  Loss  is  credited.  See  Rule  4th. 

The  whole  of  the  accounts,  excepting  Profit  and  Loss,  and  the  Mer- 
chant's account,  having  been  closed,  the  account  of  Profit  and  Loss  is 
finally  closed  by  transferring  the  difference  to  the  debit  or  credit,  as  the 
case  may  be,  of  the  Merchant's  account,  and  that  amount  so  transferred 
will  be  found  to  be  the  exact  sum  wanting  to  balance  the  Merchant's 
account,  which  having  been  done,  the  books  are  completely  balanced  and 
closed.  In  another  place  I  shall  show  the  method  of  re-opening  them  in 
partnership  with  other  individuals.  The  amount  transferred  from  the 
Profit  and  Loss  account  to  the  Merchant's  account  shows  the  total  Jain 
or  loss.  There  are  several  of  the  accounts  upon  which  interest  should 
have  been  charged,  but  I  have  purposely  omitted  this,  being  desirous  of 
suppressing  every  item  which  might  tend  to  confuse  the  student.  My 
design  has  been  to  give  the  general  outlines  and  prmeipW  of  my  method, 
leaving  the  details  to  be  carried  out  by  the  intelligent  student. 

I  commend  the  following  extract  from  McCtilloch's  Dictionary  of 
Com  me  roe,  to  every  young  man  desirous  of  becoming  an  expert  book- 
keeper : 

f      '*  Accuracy  in  addition  is  one  of  the  main  requisites  in  a  clerk,  and 
I  particularly  in  a  book-keeper.     Of  the  extent  to  which  it  may  be  attained 

67 


by  continued  practice,  those  only  can  judge  who  have  experienced  h 
themselves,  or  have  marked  the  ease  and  correctness  with  which  clerks 
in  banking-houses  perform  ?uch  operations  They  are  in  the  habit  of 
striking  a  daily  balance  wh.ch  comes  within  small  compass ,  bin  a  Mer* 
chant's  balance,  comprising  the  transactions  of  a  year,  extend*  commonly 
over  a  number  of  folio  pages.  It  is  advisable,  therefore,  to  d«vi<le  each 
page  into  portions  of  ten  iines  each,  adding  such  portion?  soparately. 
fliis  lessens  the  risk  of  error,  as  it  is  evidently  easier  to  add  five  or  six 
sih-h  portions  in  succession,  than  to  do  at  once  a  whole  folio  containing 
fifty  or  sixty  sums." 

68 


FOUR  OF  THE  MOST  APPROVED  METHODS 

OF 

KEEPING   JOURNALS, 

SUCH    AS     ARE    COMMONLY     USED; 

Each  embracing  the  business  of  the  first  month,  and  inserted  in  this  place  for 
purpose  of  showing  the  entire  nmtihty  of  the  Journal. 


Dr. 


(Method  1st.) 
Boston,  1st  Ji/ly,  1845. 


Cr. 


leal  Est.  at  Roxbury 
Ship  Alabama, 
}ash, 
Merchants'  Bank, 
Merchandise, 
•ills  Receivable, 
'hilo  S.  Shelton, 
George  Hallett, 
lenshaWjWard&Co: 
Jenj.  Rich  &  Son, 
r.  C.  G  rattan, 

$ 

6 
~o 
•_ 

! 

5000 
5000 
200 
6000 
0000 
3000 
1000 
1000 
500 
500 
500 

6300 

200 
800 
1000 
2000 
800 

200 
3000 
100 
100 
800 
300 
1126 

10 
JO 
JO 
00 
JO 
00 
00 
)0 
00 
00 

uo 

00 

00 
00 
00 
00 
00 

00 
00 
00 
0! 
00 
01 
00 

1st. 
2nd. 

5th. 
7th. 

7th. 
8th. 
8th. 
8th. 
9th. 
9th. 
10th. 

Merchant, 

8 

"5 

*4 

42700 

2500 
3000 
500 
300 

200 
800 
1000 
2000 

200 
600 

200 
3000 
100 
100 
800 
300 

1100 
26 

00 

00 
00 
00 
00 

00 
06 
00 
00 

00 
00 

00 
00 
00 
00 
00 
00 

00 
00 

Merchant, 

Bills  Payable, 
A.  <5c  A.  Lawrence, 
Jossler  &  Co: 
Theodore  Chase, 

Expense, 

Cash, 

A.  &  A.  Lawrence, 

Merchandise, 

Jills  Receivable, 

Merchandise, 

Merchandise, 

Gossler  &  Co: 

Merchandise, 

Bills  Payable, 

Cash, 

Merchandise, 

Merchandise, 

Geo.  Anderson  &  Co 

Real  Est.  at  Roxbury 

Cash, 

Cash, 

Merchandise, 

Cash, 

Philo  S.  Shelton, 

Theodore  Chase, 

Cash, 

Merchandise, 
Forward, 

Merchants'  Bank, 
Cash, 

$ 

5942H 

0 

Forward, 

$> 

'59426 

00 

Dr. 


(Method  1st.) 
Boston,  I2l/i  July,  1845. 


O. 


•  1 

Amount  Forward, 
Geo.  Anderson  &  Co 

$ 

594  2t 

2000 

75 
150 
500 
100 
200 
1000 

150 
250 
300 
500 

50 
450 

100 
1000 
125 
20 

5500 
5250 
5000 
500 

00 
00 

00 
00 
00 
00 
00 
00 

00 
00 
00 
00 

on 

00 
00 
00 
00 
00 

00 
30 
00 
00, 

12th. 
14th. 
14th. 
16th. 

IGlhr 

18th. 

19th, 
19th. 
19th. 
)9th. 
21st. 

22nd. 
23rd. 
23rd. 
23rd. 
25th. 

Amount  Forward, 
Bills  Payable, 

£ 

59426 
2000 

75 
150 
500 
100 
200 

500 
500 

150 
250 
300 
500 
500 

100 
1000 
125 
20 

16250 

00 
00 

00 
00 
00 
00 
ft 

00 
00 

00 
00 
00 

00 
00 

GO 

00 

ou 
oc 

00 

Cash, 

Merchandise, 

Nath'l.  C.  Woodman, 

Lucian  B.  Brooks, 

Cash, 

Henshaw,Wara&Co 

Thomas  L.  Eayner, 

3Ierchandise, 

Cash, 

Merchandise, 

Bills  Payable, 

Merchandise, 
Bills  Payable, 

Expense, 

Merchants'  Bank, 

Merchants'  Bank, 

Bills  Receivable, 

Cash, 

Benj.  Rich  &  Son, 

VIerchandise, 

Cash, 

Bills  Receivable, 
Profit  &  Loss, 

T.  C.  Grattan, 

Real  Est.  at  Roxbury 

Bills  Payable, 

Geo.  Anderson  &  Co: 

Merchants'  Bank, 

Cash, 

Merchandise, 

Profit  &  Loss, 

Cash, 

B.&P  Railroad  Stock 
N.  E.  Bank 
House&LotllWmSt 
Cash, 

Forward, 

Estate  of  James  H. 
Comer, 

Forward, 

$ 

826-16 

00 

$ 

82646 

00 

Dr. 


(Method  1st.) 
Boston,  26/A  July, 


1845. 


Cr. 


Amount  Forward, 
Bills  Receivable, 


Farm  inFramin^h'm 
Merchants'  Bank, 
Cash, 


Cash, 


Merchants'  Bank, 


A.  &  A.  Lawrence, 


Bills  Rece'vable, 


House  in  Williams  St. 


Merchant, 


$  82646  00 

500  00 


4500  00 

5000  00 

500  00 


100 
1700 
2000  00 

30000 


70 

100 


00 


00 


$|J9741ti  00 


28th. 

28th. 
30th. 
30th. 
31st. 
31st. 
31st. 


Amount  Forward, 
Bills  Payable, 


Merchant, 


Merchandise, 


Bills  Receivable, 


Cash, 


Estate  J.  H.  Comer, 


Bills  Payable, 


Cash, 


82645 
500 


10000  CO 


100 


170000 


2000 


300 


70 


100 


8  97416 


00 


00 


CO 


00 


73 


(Method  2nd.) 
Boston,  1st  July,  1845. 


Sundries,  Dr.                               To  Merchant, 

Real  Estate  at  Roxbury, 

5000  00 

Ship  Alabama, 

15000  00 

Cash, 

200,00 

Merchants'  Bank, 
Merchandise, 

6000  00 
1  0000  i  00 

Bills  Receivable, 

3000:00 

Philo  S.  Shelton, 

1000JOO 

George  Hallett, 

iooo;00 

Henshaw,  Ward  &  Co: 

500  100 

Benjamin  Rich  &  Son, 

500  00 

T.  C.  G  rattan, 

500 

00 

42700 

00 

Merchant,  Dr.                                   To  Sundries, 

Bills  Payable, 
A.  &  A.  Lawrence, 

2500  00 

3000!  oo 

Gossler  &  Co: 

500  00 

Theodore  Chase, 

300 

00 

6300 

oc 

1st 

Kxpense,  Dr.                             To  Cash, 

200 

00 

2nd 

A.  &  A.  Lawrence,  Dr.             To  Merchandise, 

800 

oc 

3rd 

Bills  Receivable,  Dr.                  To  Merchandise, 

1000 

00 

Merchandise,  Dr.                        To  Gossler  &  Co: 

2000 

00 

7th 

Merchandise,  Dr.                           To  Sundries, 

Cash, 

200  00 

Bills  Payable, 

600 

00 

800 

00 

7th 

Cash,  Dr.                                    To  Merchandise, 

200 

00 

8th 

Merchandise,  Dr.                        To  Geo.  Anderson  <3c  Co: 

3000 

00 

8th 

Real  Est.  at  Roxbury,  Dr.          To  Cash, 

100 

00 

8th 

Cash,  Dr.                                    To  Merchandise, 

100 

00 

9th 

Cash,  Dr.                                    To  Philo  S.  Shelton, 

800 

00 

Theodore  Chase,  Dr.                   To  Cash, 

300 

CO 

Amount  Carried  Forward, 

S 

58300 

00 

74 


(Method  2nd.) 
Boston,  IQth  July,  1845. 


Amount  Brought  Forward, 
Merchandise,  Dr.                            To  Sundries, 
Merchants'  Bank, 
Cash, 

l°th 

1100 

26 

$ 

00 
00 

58300 
1126 

00 

00 

Geo.  Anderson  &  Co:  Dr.           To  Bills  Payable, 
I9th 

2000 

00 

Cash,  Dr.                                    To  Merchandise, 
llth 

75 

00 

Nath'l.  C.  Woodman,  Dr.          To  Lucian  B.  Brooks, 
14th 

150 

00 

Cash,  Dr.                                  To  Henshaw,Wa.rd  &Co: 
1«th 

500 

00 

Thomas  L.  Rayner,  Dr.             To  Merchandise, 
16th 

100 

00 

Cash,  Dr.                                    To  Merchandise, 
18th 

200 

00 

Bills  Payable,  Dr.                          To  Sundries, 
Merchandise, 
Bills  Payable, 

lQth 

500 
500 

00 
00 

1000 

00 

Expense,  Dr.                             To  Merchants'  Bank, 
19th 

150 

00 

Merchants'  Bank,  Dr.                 To  Bills  Receivable, 
l°th 

250 

00 

Cash,  Dr.                                     To  Benj.  Rich  &  Son, 
l°th 

300 

00 

Blerchandise,  Dr.                         To  Cash, 
21ct 

500 

00 

Sundries,  Dr.                               To  T.  C.  Grattan, 

Bills  Receivable, 
Profit  &  Loss, 

22nd 

50 
450 

00 
00 

500 

00 

Real  Est.  at  Roxbury,  Dr.          To  Bills  Payable. 

°3rd 

100 

on 

3eo.  Anderson  &  Co:  Dr.          To  Merchants'  Bank, 
°3rd 

1000 

00 

Cash,  Dr.                                    To  Merchandise, 
°3rd 

125 

00 

rrofit  &  Loss,  Dr.                      To  Cash, 

20 

01 

Amount  Carried  Forward, 

$ 

66396 

00 

(Method  2nd.) 
Boston,  25lh  July,  1845. 


Amount  Brought  Forward, 
Sundries,  Dr.                       To  Est.  of  James  H.  Comer, 
B.  Ac  P.  Eail  Road  Stock, 
N,  E.  BSnk 
House  &  Lot  No.  11  Williams  Street. 
Cash, 

°6th 

5500 
5250 
5000 
500 

• 

00 
00 
)0 
00 

66396 
16250 

Bills  Receivable,  Dr.                   To  Bills  Payable, 
°8th 

500 

Sundries,  Dr.                               To  Merchant, 
Farm  in  Framingham, 
Merchants'  Bank, 
Cash, 

°8th 

4500 
5000 
500 

00 
00 
00 

10000 

Cash,  Dr.                                    To  Merchandise, 
30th 

100 

Merchants'  Bank,  Dr.                 To  Bills  Receivable, 
30th 

1700 

A.  &  A.  Lawrence,  Dr.              To  Cash, 
31st 

2000 

Bills  Receivable,  Dr.                  To  Est.  of  J.  H.  Comer, 
31st 

300 

House  in  Williams  St.,  Dr.           To  Bills  Payable, 

3l3t 

70 

Merchant,  Dr.                           To  Cash, 

100 

* 

97416 

(Method  3rd.) 
Boston,  1st  July,  1845. 


Dr's.     CrV 


Sundries,  Dr.                               To  Merchant, 

$ 

42700 

OC 

tleal  Estate  at  Koxbury,                                                $ 

5000 

00 

Ship  Alabama, 

15000 

00 

Cash, 

200 

00 

Merchants'  Bank, 

6000 

00 

Merchandise, 

10000 

00 

Bills  Receivable, 
Philo  S.  Shelton, 

3000  00 
100000 

3-eorge  Hallett, 

1000  00 

Henshaw,  Ward  &  Co: 

50000 

Benjamin  Rich  &  Son, 

500 

00 

T.  C.  Grattan, 

500 

00 

Merchant,  Dr.                             To  Sundries, 

6300 

00 

Bills  Payable, 

2500 

00 

A.  &  A.  Lawrence^ 

3000 

00 

Gossler  &  Co: 

500 

00 

Theodore  Chase, 

300 

00 

Sundries,  Dr.                            To  Merchandise, 

2400 

OC 

A.  &  A.  Lawrence,  2nd. 

800 

00 

Bills  Receivable,       3rd. 

100000 

Thomas  L.  Rayner,  16th. 

100  00 

Bills  Payable,           18th. 

500 

00 

Merchandise,  Dr.                        To  Sundries, 

6700 

00 

5th.  Gossler  &  Co: 

2000 

00 

7th.  Bills  Payable, 

600 

CO 

8th.  Geo.  Anderson  &  Co: 

3000 

00 

10th.  Merchants'  Bank, 

1100 

00 

Sundries,  Dr.                              To  Bills  Payable, 

3170 

00 

George  Anderson  &  Co:  12th. 

2000 

00 

Bills  Payable,                   18th. 

,50000 

Real  Estate  at  Roxbury,  22d. 
Bills  Receivable,              26th. 
House  in  Williams  St.,   31st. 

100 

500 
70 

00 
00 
00 

14th 

Nathaniel  C.  Woodman, 

150 

00 

To  Lucian  B.  Brooks, 

__!_ 

150 

00 

Amounts  Carried  Fonvard,    $ 

61420  00 

61420 

00 

77 

(Method  3rd.) 
Boston,  July,  1845. 


Drs.     Crs. 


Amounts  Brought  Forward,    $ 

61420 

00 

61420 

00 

Sundries,  Dr.                              To  Merchants'  Bank, 

1150 

00 

Expense,                          19th. 
George  Anderson  &  Co:  23d. 

150 
1000 

00 
00 

Merchants'  Bank,  Dr.                  To  Sundries, 

6950 

00 

19th.  Bills  Receivable,    250.00 

30th.        do.                   1700.00 

1950 

00 

28th.  Merchant, 

5000 

00 

21°t 

Sundries,  Dr.                             To  T.  C.  Grattan, 

500 

00 

Bills  Receivable, 

50 

00 

Profit  &  Loss, 

450 

00 

Sundries,  Dr.                             To  Est.  of  J.  H.  Comer, 

16050 

00 

B.  &  P.  Rail  Road  Stock,  25th. 

5500 

00 

N.  E.  Bank                n        „ 

5250 

00 

House  &  Lot  No.  11  Williams  Street, 

5000 

00 

Bills  Receivable,                31st. 

300 

00 

Farm  in  Framingham,  Dr. 
To  Merchant, 

4500 

00 

4500 

00 

Cash,  Dr.                                    To  Sundries, 

3400 

00 

7th.  Merchandise,     200.00 

8th.           //                100.00 

12th.            „                 75.00 

16th.            n               200.00 

23d.            n                125.00 

28th.            „                100.00 

800 

00 

9th,  Philo  S.  Shelton, 

800 

00 

14th.  Henshaw,  Ward  &  Co: 
19th.  Benj.  Rich  &  Son, 

500 
300 

00 
00 

25th.  Estate  of  J.  H.  Comer, 

500 

00 

28th.  Merchant, 

500 

00 

/ 

Sundries,  Dr.                             To  Cash, 

3446 

00 

Expense, 

200 

00 

Merchandise,    7th.                                               200.00 

//          10th.                                                  26.00 

//          19th.                                                500.00 

726 

00 

Amounts  Carried  Forward,    $ 

94896 

00 

97416 

00 

(Method  3rd.) 
Boston^  July,  1845. 


Dr's.      Or  a. 


Amounts  Brought  Forward,    $ 

94896 

00 

97416 

00 

Sundries,  Dr.                              To  Cash, 

Real  Estate  at  Roxbury,    8th. 

100 

00 

Theodore  Chase,                9th. 

300 

00 

Profit  &  Loss,                  23rd. 

20 

00 

A.  &  A.  Lawrence,          30th. 

2000 

00 

Merchandise,                    31st. 

100 

00 

* 

97416 

00 

97416 

00 

This  method  is  the  one  most  generally  in  use  in  large  Mercantile  Establishments, 
and  is  decidedly  better  than  any  of  the  other  forms. 


DSs. 


(Method  4th.) 
Boston,  1st  July,  1845. 


Cr's. 


Cosh.         MJse.        Sundries.    LF 

1: 


20000 


200 


100 


aoooo 


0000 


2000 


800  Ofl 


3000 


1126 


130000  16a2G,CK 


5000 
15000 

6000 

3000 
10011 

ioon 

500 
5fMl 
500 


6300 


200 


800 


1000 


100 


30000 


200000 
4320000 


Sundries, 

al  Estate  at  Roxbury, 
Ship  Alabama, 
Dash, 

Merchants'  Bank, 
Merchandise, 

s  Receivable, 
Philo  S.  Shelton, 
Seorge  Hallett, 
ienshaw,  Ward  &  Co: 
Benjamin  Rich  &  Son, 
.  C.  Graltan, 


To  Merchant, 


Merchant, 

Bills  Payable, 

\.  &  A.  Lawrence  &  Co: 

3ossler  &  Co: 

Theodore  Chase, 


To  Sundries, 


Expense,                           To  Cash, 
2nd. 


A..  &  A.  Lawrence  &  Co:  To  Merchandise, 
_  3rd. 


Bills  Receivable,             To  Merchandise, 
5th. 


Merchandise,                   To  Gossler  &  Co: 
7th. 


Merchandise,  To  Sundries, 

Jash, 

Bills  Payable, 


7th. 


Cash, 


To  Merchandise, 


•  8th. 


Merchandise,               To  G.  Anderson  &  Co: 
8th. 


Real  Est.  at  Roxbury,      To  Cash, 
8lh.  


Cash, 


To  Merchandise, 


9th. 


Cash, 


To  Philo  S.  Shelton, 


•9th. 


Theodore  Chase,              To  Cash, 
10th. 


Merchandise,  To  Sundries, 

Merchants'  Bank, 

Cash, 


-12th. 


Geo.  Anderson  &  Co:  To  Bills  Payable, 


Amounts  Carried  Fonvard,- 
80 


idries.       Mdse 
4270000 


250000 

300000 
500  00 


300 


2000 


GOO 


300000 


80000 


110000 


200000 
5850000 


80000 
100000 


20000 


10000 


2ioo;oo 


200  a 


200 


100 


300 


00 


82600 


Dr's. 


(Method  4th.) 
Boston,  I2l/i  July,  1845. 


Cr's. 


1300 
75 


500 


300 


300 


125 


IGiWG 


500 


50000 


50000 


3500  00  17426,00  72220  00 


43200 


150 


100 


1000 


150 


250 


5000 
450  00 


100 


1000  00 


2000 


5500  00 
5250  00 
5000  00 


50000 


450000 
5000  00 


Cash, 


-Amounts  Brought  Forward- 


To  Merchandise, 


•14th.- 


Nathaniel  C.  Woodman, 

To  Lucian  B.  Brooks, 


-  14th. 

To  Henshaw,  Ward  &  Co: 
_  16th. 


Cash, 


Thomas  L.  Rayner,         To  Merchandise, 

-     16lh. 

Cash,                               To  Merchandise, 
18th. 


Bills  Payable,  To  Sundries, 

Merchandise, 
Bills  Payable, 

19th. 


Expense, 


To  Merchants'  Bank 
-19th. 


Merchants'  Bank,           To  Bills  Recei  rable 
19th. 


Cash, 


To  Benj.  Rich  &  Son 
-19th 


Merchandise, 


To  Cash, 


•21st.- 


Sundries, 

Bills  Receivable, 

Profit  &  Loss, 


To  T.  C.  Grattan, 


22nd.- 

Real  Estate  at  Roxbury, 


To  Bills  Payable, 


-23rd. 


Geo.  Anderson  &  Co:     To  Merchants'  Bank 
23rd. 


Cash, 


To  Merchandise, 


23rd.- 


Profit  &  Ix>ss, 


To  Cash, 


•25th. 


Sundries,  To  Eat.  of  J.  H.  Comer 

B.  &  P.  Rail  Road  Stock, 

N.  E.  Bank  „ 

House  &  Lot  No.  11  Williams  Street, 

Cash, 

26th. 


Bills  Receivable,               To  Bills  Payable, 
28th. 


Sundries,  To  Merchant, 

Farm  in  Framingham, 
Merchants'  Bank, 
Cash, 


-Amounts  Carried  Forward,- 
81 


Suii'lr  es.;i     IVMse.          Cu*n. 

5S500  00    2100K10    tJ2l3  00 
7500 


150  00 


500 


50000 
150  00 

25000 
30000 

500  00 


100 


1000  00 


10250  00 


50000 
1000000 


100  00 
20000 

50000 


125  00 


88700  00    3100  00  1346  00 


GOO 


00 


2000 


Dr's. 


(Method  4th.) 
Boston,  28th  July,  1845. 


Cr's. 


CKS 

3500 
100 

3600 

•  —  —  . 

00 
00 

00 

-»-^ 

Mdst 

17426 

00 

Sundr 
72220 

1700 
2000 
300 

70 
100 

00 

00 
00 

00 

00 
00 

LF 

2 
3 

4 

3 
8 

7 
6 

12 

Sunrlr 

88700 
1700 

300 
70 

es. 
00 

00 

00 
00 

Mils 

3100 
100 

>. 
00 

00 

Casl 
1346 

2000 
100 

Cash,                        To  Merchandise, 

'•>0th 

Merchants'  Bank,        To  Bills  Receivable, 
30th 

A.&A.  Lawrence  &  Co:  To  Cash, 

°l"t 

Bills  Receivable, 
To  Estate  of  James  H.  Comer, 

Slat 

House  in  Williams  Street, 
To  Bills  Payable, 

Merchant,                     To  Cash, 

17426  00 

=^ 

8 

76390 
17426 
3600 

97416 

• 

0-0 
00 
00 

00 

:r=r 

2 
2 

Sundries,                                       Sundries, 
Merchandise,                      2.  Merchandise, 
Cash,                                  2.               Cash, 

Proof,                                            Proof,  * 

Debit  of  Cash,     33600.00 
Credit..    ..           3446.00 

90770 
3200 
3446 

00 
00 
00 

3200 

_  —  •  — 
—  -  — 

00 

_  — 

3446 

-—  — 

97416 

00 

Balance  on  hand,  $154.00 

This  method  obtains  favor  in  a  few  Mercantile  houses.  It  is  essentially  a  "  fancy  method,"  and  may 
answer  very  well  to  occupy  time  where  the  Book-keeper  is  expert  and  careful,  but  the  many  instances 
which  have  come  under  my  notice  where  the  figures  have  been  placed  in  the  wrong  columns,  and  con- 
sequent erasures  or  cross  entries,  have  satisfied  me  of  its  total  unfitness  for  mercantile  purposes  as  a 
general  thing.  Within  the  last  five  years  I  have  frequently  been  called  upon  to  alter  Books  which  have 
been  for  a  time  kept  by  this  method,  both  in  the  form  of  original  entry  books  and  as  Journals,  to  the 
more  simple  plan  recommended  in  this  work.  I  have  inserted  the  Ledger  folios,  as  though  this  month's 
business  had  been  posted  from  this  Journal,  in  order  that  the  interested  may  examine  the  accounts  on 
the  Ledger,  and  they  will  find  that  in  all  these  Journal  forms  the  result  is  precisely  the  same,  and  pre- 
cisely the  same  as  in  the  method  recommended,  where  no  Journal  whatever  is  used.  Of  what  advan- 
tage then,  I  ask,  is  the  Journal?  And  the  only  answer  that  can  be  giver,  is,  that  it  helps  to  occupy  the 
time  of  the  Clerk  and  occasionally  that  of  an  assistant. 


THE  BOOKS 


OF 


MERCHANT    PEARCE   &   Co 


"  Day  Book." 
Boston,  1st  October,  1845. 


Merchant,  Nathaniel  C.  Woodman  and  John  T.  Pearce, 

have  this  day  entered  into  copartnership,  for  the  pur- 

pose of  continuing  the  business  formerly  carried  on 

by  Merchant,  under  the  firm  of  Merchant,  Pearce  & 

Co:  in  equal  interest,  as  per  articles  of  agreement, 

and  have  each  contributed  to  the  Capital  Stock  the 

amounts  hereinafter  specified. 

Schedule  of  our  Capital  or  Effects. 

Merchant,  puts  in  as  follows  : 

Real  Estate  at  Roxbury,                                valued  at  $ 

5000 

00 

Ship  Alabama,  ith.                                                  /,       „ 

10000 

00 

B.  &  P.  Rail  Road  Stock,                                     „      „ 

5500 

00 

N.  E.  Bank  Stock,                                                n      „ 

5250 

00 

House  &  Lot  No.  11  Williams  Street,               n      n 

5000 

00 

Real  Estate  at  Newton,                                        //      / 

2400 

00 

Cash,  as  per  Cash  Book, 

708 

2fe 

Merchants'  Bank  —  deposited, 
Globe  Bank  —                do 

5035 
9357 

00 
5fi 

Merchandise,  as  per  Invoice  Book. 

3000 

00 

Bills  Receivable,  as  per  Bill  Book,' 

19136 

25 

Nathaniel  C.  Woodman  owes  him 

50 

on 

Lucian  B.  Brooks               n      n 

150 

00 

John  T.  Pearce                    n      // 

2180 

50 

Addison  Belknap                 t      n 

220  Od 

Shipment  to  Barbadoes,  Co.  A. 

5500  OU 

Shipment  to  Liverpool,  Co.  B. 

3520 

00 

82007 

£.9 

His  Liabilities,  assumed  by  the  firm  are  as  follows  : 

Bills  Payable,  as  per  Bill  Book, 

10340 

00 

Gossler  <te  Co:  on  account, 

279 

<•>:* 

Estate  of  the  late  James  H.  Comer, 

17180 

00 

Suspense, 

5000 

00 

32799 

63 

Nathaniel  C.  Woodman,  puts  in  as  follows  : 

Cash  deposited  in  Merchants'  Bank, 
Merchandise,  as  per  Invoice  Book, 

20000 
25000 

00 

oo 

45000 

00 

John  T.  Pearce,  puts  in  as  follows  : 

Real  Estate  in  Tremont  Street, 

35000 

00 

Bills  Receivable  as  per  Bill  Book, 

20000 

oo 

55000 

00 

His  Liabilities  assumed  by  the  firm  are  as  follows  : 

Bills  Payable,  as  per  Bill  Book, 

5000 

00 

Francis  Skinner  &  Co: 

5000 

00 

10000 

00 

1 

224807 

22 

84 


ru                        T?t? 

AL 

,1 

"  Ledger." 

ESTATE    AT    R 
5000  00| 

SHIP  ALABAMA 
10000  00| 
P.  RAIL  ROAD 
5500  00| 
.  E.  BANK  ST 
5250.001 
No.  11  WILL 
5000  00| 
ESTATE  AT  ft 
2400  001 

P  A°TT 

1845. 
Oct.  1. 

To  Merchant, 
ft* 

!i 

LCr 

1845. 
Oct.  1. 

To  Merchant, 

Ir                                         R 

s! 

& 

,1 

N 

1! 

Smrir                              Pr 

1845. 
Oct.  1. 

To  Merchant, 

ir 

1845. 
Oct.  1. 

To  Merchant, 

tl 

LiOl 

Si 

AL 

1 
ti 

II 

TAM*!   STT?TT«IT  -  -•    ••     C!r 

1845. 
Oct.  1. 

To  Merchant, 

kr                                     "Dr 

ii 

1845. 
Oct.  1 

Tc  Merchant, 
kr 

.     ii 

Pr 

1845. 
Oct.  1. 

To  Merchant,            1  $1 

)r                                              "^ 

708  2S| 

[ERCHANTS'  BA 
25035  00| 

frT  ORP      R^NTT 

II 

NTT                                    Pr 

1845. 
Oct.  1. 

To  Sundries, 
Ir 

si 

II 

Cr 

1845. 
Oct.  1. 

To  Merchant, 

LI 

SI 

9357  5b| 

II 

1845. 
Oct.  1. 

To  Sundries, 

)r 

si 

J 

1280001001 
ILLS  RECEIVAB 
139136  25| 

IANIEL    C.   Wo 

|              1  1845. 
1      50  OOlOct.  1. 

UCIAN  B.  BRO 
1     150  001 

JOHN  T.  PEARC 

II    1  1845. 
2180  SOlOct.  1. 
1000000 

II     1 

rr                                   Cr 

1845. 
Oct.  1. 

To  Sundries, 

>r                                       N 

si 

ATI 

si 

II 

1845. 
Oct.  1. 

To  Merchant, 
)r 

By  Sundries,               SlUoOOlOO 
w                                    Pr 

1845. 
Oct.  1. 

To  Merchant, 
)r 

,i 

II 

ECr 

1845 
Oct.  1. 

it     n 

To  Merchant, 
//  Sundries, 

'1 

By  Sundries,               $5530000 

-Dr. GOSSLER  &  Co: 


I  1815. 

|0ct.  l.|By  Merchant, 

-Dr. ESTATE  OF  THE  LATE  JAMES  H.  COMER. 

I  I    II         I    I  1345.1 


-Dr.- 


I  1845. 
(Oct.  1. 


"  Ledger." 

-ADDISON  BELKNAP. —  •    Cr. 

Oct.  LlTo  Merchant,  |  $||    22o|oo| 

Dr. SHIPMENT  TO  BARBADOES,  Co.  A. Cr. 

1845-l  I    II         I    I          I  I    II 

Oct.  l.lTo  Merchant,  I  $11  5500!00|  I    || 

Dr. SHIPMENT  TO  LIVERPOOL,  Co.  B. Cr. 

1845.1  I    II         I    I  I    II         I 

Oct.  l.|To  Merchant,  |  $||  3520|00|  I     1 1 

Dr. MERCHANT. Cr. 

1845.1  I    ||         ||  1845.  |  |    ||         | 

Oct.  l.|To  Sundries,  I  $||32799|63|0et.  l.| By  Sundries,  I  $||82007|59 

Dr. BILLS  PAYABLE. Cr. 

|     I  1845. | 

I     |0ct.  l.lBy  Merchant, 


SL 

[Oct.  1. 

ro-p-p-M-oT? 

By  Merchant, 

$1117180 
Cr 

00 

O  L 

01     l-.\-      >;. 

1  1845. 
(Oct.  1. 

By  Merchant, 

$11  5000 

00 

-Dr. FRANCIS  SKINNER  &  Co: Cr.- 


iByJ.T.  Pearce,        I  $11  5000100 

-REAL  ESTATE  IN  TREMONT  STREET. Cr. 

Oct.  l.lTo  John  T.  Pearce,  I  $||3500o|oo| 


I  have  made  these  entries  for  the  purpose  of  showing  how  the  Books  of  a  Copart- 
nership, either  continuing  the  old  set  of  Books,  or  with  an  entirely  new  set,  should 
be  opened.  By  reference  to  the  Ledger  entries  it  will  Ije  seen  that  each  of  the 
partners  are  credited  with  the  amount  of  property  invested  in  the  business  by  them, 
and  are  debited  with  the  amount  of  the  debts  due  by  them  individually,  and  assumed 
by  the  firm.  Upon  closing  the  Books,  interest  will  have  to  be  allowed  each  partner 
upon  the  amount  of  capital  invested,  and  each  partner  must  be  debited  with  interest 
on  the  amounts  drawn  out  of  the  concern  by  him.  The  balance  of  the  Profit  and 
Loss  account  will  then  show  the  total  gains  or  losses,  which,  being  divided,  one- 
third  to  each  of  the  partners,  will  close  the  books  precisely  the  same  as  in  ;he  former 
?et  of  books  where  the  Merchant  alone  was  concerned. 


"  Form  of  an  Invoice" 

Invoice  of  Merchandise,  shipped  per  Alabama,  Capt.  Wood,  and  con- 
signed to  Messrs.  Higginson,  Dean  &  Stott,  Barbadoes,  to  be  sold  on 
account  and  risk  of  Richard  Lewis  and  Merchant,  Boston. 


B    L 

<§> 

H.  D.  S. 

<S><3> 

800  bbls.  Super  Flour,             <®  30                                $ 
300    //     Pork,                         n  60 
200    //     Beef,                          //  75 

-Charges  — 

4000 
3000 
2500 

00 
00 
00 

9500 
1500 

00 
00 

Freight,  Insurance,  &c.  paid  here, 

$ 

11000 

00 

B.&O.E. 

Boston,  16th  August,  1845. 


"  Form  of  a  Bill." 


GEORGE  N.  COMER, 


To  B.  LORING  &  Co: 


Dr. 


1845. 

Julyl. 

For  50  Reams  Blue  Cap  paper,            <© 

U 

200 

00 

20      n         n    extra  letter  do.       »/ 

5 

100 

00 

12  Gross  Gillot's  fine  Steel  Pens,    // 

62 

7 

44 

$||    307 

44 

E.E. 

Boston,  1st  January,  1846. 


GEORGE  N.  COMER, 


"  Another." 


BOUGHT  ov  ANDREW  ALLEN  &  Co: 


1845. 

3.00  3.50         4            7.00 

Oct.  15. 

4  Blank  Books,  1111                                   $ 

17 

50 

5  Reams  Blue  Ruled  Letter  Paper,  <©  $3 

15 

00 

$ 

32 

50 

Received  Payment, 

ANDREW  ALLEN  Ac  Co: 


GEORGE  N.  COMER, 


"  Another." 


In  acc't.  with  OLIVER  HOLMAN  &  Co: 


1845. 

Nov  16. 

To  25  Reams  Blue  Cap,                         ®  $4.25          $ 

106 

25 

50        n        t,    ruled  Letter,            n     2.75 

137 

50 

100  Gross  Steel  Pens,                         t        3s. 

50 

00 

S 

293 

Nov20. 
Dec.  15. 

By  Cash,  per  receipt,                                                   $ 
tf  Cash,    //        // 

100 
100 

00 
00 

E.  &0.  E. 
Boston,  1st  January,  1846. 


"  Form  of  an  Account  Sales." 
Sales  made  for  Account  of  MESSRS.  JOHNSON  &  Co:  New  York. 


1845. 

Aug.  8. 

3  Ps.  Black  German  Cloth,            «  4  mo's." 

,/  11. 

#  1521  <®  1523  =  180  yds.            @  $5                     $ 
7  Ends  Black  Cassimere,               «  3  mo's." 

900 

00 

#  906  i®  912  ==  200  yds.                «®  $2 

400 

00 

..  18. 

1  Bale  French  Broad  Cloths.           «  1  mo." 

10  Ps.  #  16793  <2>  16802  =  500  yds.  <2>  $4 

2000 

00 

$ 

3300 

00 

Charges. 

Aug.*. 

Freight,  &c. 

200 

00 

/   // 

Drayage  and  Labor, 

3 

50 

Advertising, 

4 

50 

Commission  5  %  on  $3,300 

165 

on 

Guaranty,     2£  "  "      // 

82 

50 

455 

50 

Net  Sales  to  your  Credit, 

S 

2844 

50 

E.  &0.  E. 

Boston,  18th  August,  1845. 

Merchant, 

Per  E.  Maxwell,  Jr. 


"  Form  of  an  Account- Cur  rent,  without  interest" 
MESSRS.  JOHNSON  &  Co:  New  York,  in  acc't.  with  MERCHANT,  Boston. 


1845. 

Dr. 

Cr. 

Aug.  6. 
*  18. 

To  your  draft  at  sight  in  favor  of  P.  F.  Slane,             $ 
By  Balance  Net  Sales  to  your  credit, 

1000 

00 

2844 

50 

To  Balance  remaining  to  your  credit, 

1844 

50 

1 

2844 

50 

2844 

50 

£   &0.  E. 

Boston,  18th  August,  1845. 


Merchant, 

Per  E.  Maxwell,  Jr. 


Messrs.  COATES  &  Co: 


"  Form  of  a  Skipping  Merchant's  Bill." 

LIVERPOOL,  4th  AUGUST,  1845. 
To  D.  &  C.  MAC!VER,        Dr. 


For  Shipping  charges  on  3  cases,  Shipped  per  "  Hibernia," 

for  Boston,  W.  &  A.  350  0  352. 

Carriage  to  Liverpool,                                                                  £ 

18 

Export  duty,                                  dues,  1 

1 

Cartage,  &c.  Bill  Lading  &  Postage,  2  6 

2 

ft 

Freight  to  Boston,                                 ** 

5 

19 

9 

Commission, 

17 

7 

£ 

7 

18 

10 

"Another  form  of  'Ace  "t.  Sales  fy  Acc't.  Current,  with  interest" 


Sales  of  Printing  Cloths  made  by  GEORGE  N.  COMER  for  account  of 
FRANCIS  SKINNER  &  Co: 


Date. 
1845. 

Aug.  17. 
n     20. 

n       30. 


1845. 
Aug.  14. 
//     30. 


Time. 


6  mo's. 
Cash, 
6  mo's. 


Mark 


7  Bales,  171  (8)  178 


-Charges.- 


345  i®  365 
105  <®  129 


Yards. 


9887 
22472£ 
27317£ 


Price. 


To  Paid  Rail  Road  Freight, 
//      //    Labor  &  Trackage, 
//      //    Insurance  &  Postages, 
//  Commission  2£  %on  $3697.61 


704 
1207 
1821 


Net  Sales  due  25th  December,  '45, 

E.  &O.E. 

Boston.  30th  September,  1845. 

George  N.  Comer, 

Per  E  Maxwell,  Jr. 


3734 


12894 


3605 


11 


MESSRS.  FRANCIS  SKINNER  &  Co:  in  Acc't.  Current  with  G.  N.  COMER, 


Interest. 

Date. 

Interest  to  30th  September,  1845. 

Dr. 

Cr. 

Due. 

Days. 

Dr. 

Cr. 

1845. 

Aug.  17. 
„      30. 

To  Cash  paid  you  this  day, 
By  Net  Sales  as  per  acc't. 

2000 

00 

3605 

17 

Aug.  17. 
Deer.  25. 

44 

86 

14 
51 

66 
67 

Sept.  30. 

To  Balance  Interest  acc't. 

66 

33 

66 

33 

//      // 

To  Cash  to  Balance, 

1538 

84 

3605 

17 

3605 

17 

66 

33 

66 

33 

E.  &O.E. 

Boston,  30th  September,  1845. 


George  N.  Comer, 

Per  E.  Maxwell,  Jr. 


14  Form  of  an  English 
Dr.         GEORGE  N.  COMER  in  Account-Current  and  Interest  Account 


1845. 

Days 

April  21. 
n     24. 

To  Freight  of  parcel  per  "  Hibernia,"             £ 
a  Invoice  from  Leeds  Establishment, 

n 

38 

10 
9 

// 

6 

132 
129 

n 
a 

n 

13 

2 

9 

//     29. 

//  Cash, 

25 

0 

0 

124 

n 

8 

8 

//     30. 

//  Mackinaw  from  Leeds, 

n 

7 

6 

123 

n 

n 

2 

May    1. 

//  Invoice  per  "Britannia," 

15 

12 

0 

122 

n 

5 

2 

„      2. 

„    26. 

/  Freight  and  Charges  per  do. 
/  Invoice  from  Leeds  Est. 

2 
63 

15 
2 

3 
2 

121 
97 

n 
n 

n 

17 

11 
0 

//    30. 

/      do.      //      do.      a 

216 

3 

5 

93 

2 

15 

10 

June    4. 

i  Cash, 

12 

0 

0 

88 

a 

2 

10 

„      5. 

/  Invoice  per  "Cornelia," 

228 

10 

1 

87 

2 

15 

1 

//     10. 

/      do.     from  Leeds  Est. 

39 

8 

1 

82 

n 

9 

0 

//     11. 

//      do.     per  "  Constantine," 

187 

4 

1 

81 

2 

10 

2 

//     12. 

n  Cash, 

5 

0 

0 

80 

n 

1 

1 

//     13. 

//  Invoice  per  "  Columbus," 

90 

7 

0 

79 

„ 

19 

9 

„     18. 

n      do.       //   "Ashburton," 

296 

4 

6 

74 

3 

0 

10 

//    23. 

n      do.       //   «  Stephen  Whitney," 

22 

19 

10 

69 

// 

4 

5 

//    24. 

n      dp.        //   "Mary  Ann," 

119 

6 

1 

68 

1 

2 

6 

„    27. 

//  Cash  paid  A.  &  S.  Henry  &  Co: 

55 

5 

6 

65 

// 

10 

0 

n      30. 

//    do.      //    Coates  &  Co: 

115 

8 

1 

62 

// 

19 

11 

July    2. 

//  Invoice  from  Leeds  Est. 

28 

7 

4 

60 

„ 

4 

9 

n        3. 

//      do.        //        do.    do. 

61 

5 

9 

59 

// 

10 

2 

//     9. 

//      do.      per  "  Laura," 

10 

10 

5 

53 

// 

1 

7 

n     16. 

//      do.        //   "Cambria," 

142 

8 

0 

46 

II 

18 

o 

„    17. 

//      do.        n   "  Barnstable," 

39 

17 

10 

45 

II 

5 

0 

„    18. 

//      do.  .    from  Leeds  Est. 

63 

6 

0 

44 

II 

7 

9 

n    22. 

n      do.      per  Great  Britain, 

68 

7 

8 

40 

II 

7 

7 

//   24. 

n  Accepted  J.  Munroe  &  Co:  Draft, 

1143 

14 

2 

38 

6 

0 

8 

n     26. 

//  Invoice  from  Leeds  Est. 

39 

15 

1 

36 

// 

3 

12 

August  1. 

n  Cash  paid  Crafts  &  Stell, 

248 

18 

0 

30 

1 

0 

9 

//    31. 

n  J.  T.  Crooks,  Shipping  charges, 

74 

16 

0 

//     it 

n  Fire  Insurance, 

it 

18 

6 

it       n 

n  Postages,  &c. 

3 

7 

it       n 

n  Interest  on  Bills  not  due, 

3 

11 

11 

n       n 

//  Balance  of  Interest, 

14 

3 

9 

£ 

3473 

8 

7 

31 

9 

7 

1845. 
August  31.  To  Balance  due  in  Cash  this  day,  £273    8    7 


90 


Account-  Current" 

to  August  31st,  1S45,  with  THORNTON,  ATTERBURY  &  Co:          Cr. 


1845. 
April  14 

//     14. 

June  13. 

July  14. 

//    30. 
Ausr.  31. 


By  Bills  on  Dennison  &  Co: 

at  60  days,  £ 
it  Bill  on  Dennison  &  Co: 

at  60  days; 

//  do.    n  Dennison  &  Co: 
//  do.    //  Dennison  &  Co: 

at  60  days, 
//  do.    //  Dennison  &  Co: 

at  60  days, 

n  Balance  of  Interest  to  Debit, 
n  Balance  of  Account  carried  down, 


800 

800 
300 

1000 
300 
273 


£  3473    8    7 


Due. 

June  17. 

//      // 
Aug.  16. 

Sept.  16. 
Oct.  3. 


£.  &  0.  E. 

Manchester,  31st  of  August,  1845. 


12 


31  9  7 


THORNTON,  ATTERBURY  &  Co. 


91 


COMMERCIAL    CALCULATIONS. 


INTEREST. 

"  Interest  is  defined  by  economists  to  be  the  net  profit  of  Capital ;  but, 
in  the  commercial  acceptance  of  the  term,  it  may  be  more  correctly 
described  as  the  consideration  agreed  to  be  paid  fo?  the  use  of  money. 
The  sum  on  which  the  interest  is  reckoned  is  calbd  the  Principal,  and 
the  sum  per  cent,  agreed  on  as  interest,  the  Rate." — Waterston. 


RULE. 


To  find  the  interest  on  any  sum  for  one  year,  multiply  the  principal 
by  the  rate  per  cent,  as  the  decimal  of  one  hundred  ;  observing  that  dol- 
lars produce  dollars  and  cents  ;  and  cents  produce  mills. 

EXAMPLES. 

What  is  the  interest  of  $500,  for  one  year  at  5  per  cent,  and  at  6 
per  cent.  ? 

500  500 

.5  .6 

Ans.  $25.00  Ans.  $30.00 

What  is  the  interest  of  $654.70  for  one  year,  at  5£  per  cent,  and  at  7 
per  cent.  ? 

654.70  654.70 

7 


32.73.50  $45.82.90  Ans. 

3.27.35 


Ans.  $36.00.85 

What  is  the  interest  of  $600,  from  the  20th  April,  1843,  to  the  15th 
March,  1845,  at  6  per  cent.  ? 

The  first  thing  is  to  find  the  time — put  down  the  last  date  first,  count- 
ing the  months  by  their  number  in  the  year,  then  the  first  date  under- 
neath, and  subtract  the  one  from  the  other,  the  remainder  will  be  the 
time. 

EXAMPLE. 


Year. 

Month. 

Days. 

1845. 

3 

15 

1843. 

4 

20 

1. 

10 

25 

92 

000 
6 
Months. 

6    is    £        36.00  Interest  for  1  year, 

4  //    £        18.00        „       //  6  months, 

20    //     £        12.00        „       /,  4      n 

5  „    |          2.00        „       //  20  days. 

.50        ,/       „     5    // 

Ans.  $68.50 

When  the  time  is  less  than  one  year,  it  should  not  be  computed  by 
the  foregoing  rule,  but  by  the  following  method : 

EXAMPLE. 

What  is  the  interest  of  $700,  from  the  20th  April,  1845,  to  the  30th 
August,  1845,  at  6  per  cent.  ? 

30 
April  20 

//     10  The  number  of  days  remaining  in  April  are  10 : 

May  31  there  are  31  days  in  May,  30  in  June,  31  in  July, 

June  30  and  the  30th  of  August  being  the  last  day  of  the 

July  31  time,  only  30  days  must  be  counted  in  that  month. 

Aug.  30  » 

132  days,  or  4  months  12  days. 

Having  found  the  time,  one  method  of  finding  the  interest  is,  to  mul- 
tiply the  principal  by  half  the  number  of  months,  and  take  aliquot  parts 
for  the  days,  as, 

700 
2 


12  days  is  ^th     14.00  Interest  for  4  months, 
1.40        „       „    12  days. 

Ans.  $15.40 

Another  method  is  to  multiply  the  principal  by  the  number  of  days 
and  divide  by  6000. 

700 
132 

6)92.400 
Ans.  $15.40 

Another  method  is  to  cut  off  the  two  right  hand  figures,  or  one  per 
cent.,  which  is  the  interest  on  any  sum  for  60  days  at  6  per  cent.     Twice 

93 


that  sum  therefore  will  give  the  interest  for  4  months.  Then  cut  off  the 
first  right  hand  figure,  which  will  always  give  the  interest  on  any  sum 
for  6  days  at  6  per  cent.  Twice  that  sum  therefore  will  give  the 
interest  for  12  days. 

EXAMPLES. 

$70|0  =  70  cents  interest  for  6  days, 

70         ii  n  tr     ii        ii 

$7|00  =  7.00  dollars    „        „  60    „ 
7.00      //         n        a   a     a 

Ans.  $15.40 

What  is  the  interest  of  $900  for  51  days  at  6  per  cent.  ? 

$90|0  =  90  cents  interest  for  6  days, 
$9|00  =  9.00  dollars    //       //  60     „ 

4.50      „        n       „  30    n 

2.25      //        //       ,/  15    n 

•  tjO  •     a         n       n     u     // 

Ans.  $7.65  51    n 

This  is  a  most  excellent  method  of  calculating  interest,  and  will  be 
found  of  very  great  utility  in  Banking  operations  or  in  calculating  interest 
upon  Notes  which  always  carry  grace,  or  3  days  beyond  the  time  speci- 
fied. Thus,  the  interest  on  a  note  at  60  days  would  have  to  be  computed 
for  63  days. 

EXAMPLE. 

What  is  the  interest  upon  three  notes  each  for  $1642.25  at  30,  60  and 
90  days  from  date,  at  6  per  cent.  ? 

16.42.25 

3  days  is  \       16.4.2  Interest  for  60  days. 
.82       n        it    3    a 

Ans.  $17.24 

16.42.25  Interest  for  60  days.         16.42.25 
8.21.12      n        „   30    „  8.21      Interest  for  30  days. 

.82.  n  ii        3       n  82  ii          ii       3       // 

Ans.  $25.45  Ans.  $9.03 

The  net  proceeds  of  a  note  for  $1642.25  at  30  days,  discounted  by  a 
Bank,  would  be  $1642.25  less  $9.03,  or  $1633.22.  This  is  the  princi- 
ple upon  which  Banks  discount  notes — but  this  is  not  the  true  discount 
at  6  per  cent.  Because  for  $1633.22  paid,  the  Ban*,  receives  in  33  days 
$1642.25,  together  with  33  days'  interest  on  the  discount,  $9.03.  The 
Interest  on  $1633.22  for  33  days  would  only  be  $S.9S. 

94 


As  it  is  very  frequently  necessary  to  calculate  interest  upon  Invoices 
and  Accounts-Current,  in  Sterling  money,  it  is  desirable  that  the  Clerk 
should  know  the  best  method  of  doing  this  operation,  and  for  this  purpose 
1  submit  the  following  Example.  The  legal  rate  of  interest  in  Great 
Britain  is  5  per  cent.,  which  is  the  rate  usually  charged. 

What  is  the  interest  on  £269.16.6  for  9  months  and  15  days? 

£269.16.6 
5 


13.49.2.6     6  mo's.  is  £     £13.  9.10  Interest  for  1  year,  nearly. 
20  

9.82  3      „         J         6.14.11       „         „  6  months. 

12  15  days  is   £         3.  7.  5J     „         ,/  3       /, 

11.  2j     „         „  15  days. 

9.90 

4  £10.13.  7J  Ans. 

3.60 

The  following  directions  for  casting  interest  upon  Notes  where  partial 
payments  have  been  made,  is  of  so  much  importance,  and  will  be  found 
so  beneficial  to  the  business  man,  that  I  have  deemed  it  necessary  to 
insert  it  entire.  It  is  taken  from  the  Mass.  Reports,  vol.  17,  page  417. 

DEAN  vs.  WILLIAMS. 

In  casting  interest  upon  Bonds,  Notes,  &c.,  upon  which  partial  pay- 
ments have  been  made,  every  payment  is  to  be  first  applied  to  keep  down 
the  interest ;  but  the  interest  is  never  allowed  to  form  a  part  of  the  prin- 
cipal, so  as  to  carry  interest. 

By  the  Court. — One  of  the  methods  of  casting  interest  where  partial 
payments  have  been  made  and  endorsed  on  bonds,  notes,  or  other  secu- 
rities for  money,  is  to  calculate  the  interest  from  the  date  of  the  security, 
or  the  time  when  the  interest  is  to  commence,  to  the  time  of  the  first 
payment  endorsed,  to  add  this  to  the  principal,  and  from  the  sum  to  sub- 
tract the  payment.  On  this  remainder  interest  is  cast  to  the  time  of  the 
second  endorsement,  which  is  added  to  the  remainder,  and  from  the  sum 
is  subtracted  the  second  endorsement.  In  like  manner  interest  is  cast 
from  one  payment  to  another,  and  to  the  time  of  the  judgment.  This 
method  is  correct,  whenever  the  payment  exceeds  the  amount  of  interest 
due  at  the  time  of  payment ;  but  it  is  not  to  be  used  when  the  interest 
exceeds  the  payment ;  'for  the  effect,  in  such  case,  would  be  to  give  com- 
pound interest,  which  the  law  does  not  allow.  To  avoid  this,  the  fol- 
lowing rule  has  been  adopted,  by  which  every  payment  is  first  applied  to 
keep  down  the  interest ;  but  the  interest  is  never  allowed  to  form  a  part 
of  the  principal,  so  as  to  carry  interest. 

Compute  the  interest  on  the  principal  sum,  from  the  time  when  the 
interest  commenced  to  the  first  time  when  a  payment  was  made,  which 
exceeds,  either  alone  or  in  conjunction  with  the  preceding  payments,  if 
any,  the  interest  at  that  time  due ;  add  that  interest  to  the  principal,  and 

95 


from  the  sum  subtract  the  payment  made  at  that  time,  together  with  the 
preceding  payments,  if  any,  and  the  remainder  forms  a  new  principal, 
on  which  compute  and  subtract  the  interest  as  upon  the  first  principal, 
and  proceed  in  this  manner  to  the  time  of  the  judgment. 


DISCOUNT 

Is  an  allowance  paid  on  account  of  the  immediate  advance  of  a  sum 
of  money  not  due  till  some  future  period.  The  true  discount  of  any  sum 
for  any  given  time  is  such  a  sum  as  will  in  that  time  amount  to  the 
interest  of  the  sum  to  be  discounted.  Thus,  the  proper  discount  to  be 
received  for  the  immediate  advance  of  $100  due  twelve  months  hence  is 
not  $6,  but  $5.66. 

RULE. 

Add  the  interest  of  $100,  at  the  given  rate  and  time,  to  $100,  and  as 
that  amount  is  to  the  rate  per  cent,  so  is  the  given  sum  to  its  discount ; 
which,  deducted  from  the  principal  sum,  gives  the  present  worth. 

EXAMPLES. 

If  A.  wishes  to  remit  $200  to  his  correspondent  in  New  Orleans  when 
exchange  is  at  3  per  cent,  discount,  what  amount  must  he  pay  for  the 
draft  ? 

As  103:  3: 1200  200. 

3  5.83 


103)600(5.83  nearly.       Ans.  $194.17 
515 

•8500 
824 


•260 
206 

54 
Or,  As  103  :  100:  .'200  :  $194.17  Ans. 

A.  sold  an  invoice  of  Merchandise  to  B.,  amounting  to  $3960,  at  12 
months  credit,  but  afterwards  agreed  to  make  10  per  cent,  discount  for 
Cash.  What  amount  is  to  be  deducted  ? 

As  110  :  10: 13960    !    $360  Ans. 

It  will  be  readily  seen  that  there  is  a  considerable  difference  between 
10  per  cent,  discount,  and  10  per  cent.  off. 

96 


PREMIUM 

Is  defined  by  Dr.  Johnson  to  be  "  something  given  to  invite  a  loan  or 
a  bargain."  In  commercial  parlance  it  is  understood  to  be  the  sum  given 
for  a  thing  above  its  original  or  par  value  ;  excepting  in  insurance,  where 
it  is  the  whole  consideration  granted  by  the  party  protected  under  the 
contract. 

Thus,  if  A.  in  New  Orleans  has  in  his  hands  $300  belonging  to  B. 
of  Boston,  which  B.  requests  may  be  invested  in  a  draft  and  remitted  to 
him ;  what  will  be  the  amount  of  the  draft,  A.  having  to  pay  8  per  cent, 
premium  ? 

STATEMENT. 

As  100  :  92:  :300  :  $276.00,  Ans. 

For  what  amount  must  a  policy  of  insurance  be  taken  out  to  cover 
S5000,  when  the  premium  is  3  per  cent.  ? 

As  97  :  100:  :5000  :  $5154.64  Ans. 


EXCHANGE. 

A  term  that  is  used  in  reference  to  those  transactions  by  which  the 
debts  of  persons  residing  at  a  distance  from  their  creditors  are  liquidated 
without  the  transmission  of  money. 

A  Bill  of  Exchange  may  be  defined  a  written  order  directing  one 
party  to  pay  a  sum  of  money  to  another — either  the  person  who  gives 
the  order  or  some  third  party — at  some  day  fixed  or  ascertainable. 

Exchaiige  on  Great  Britain. 

Accounts  are  kept  in  Pounds,  Shillings,  Pence  and  Farthings.  The 
nominal  par  of  exchange  between  Great  Britain  and  the  United  States 
is  $4.44.44|  to  the  Pound  Sterling  (£)  or  Twenty  Shillings. 

RULE. — To  reduce  Sterling  to  Federal  money  at  par.  Multiply  the 
pounds  by  40  (the  number  of  sixpences  in  a  pound),  add  to  this  product 
the  number  of  sixpences  in  the  shillings  and  pence,  and  divide  by  9  (the 
number  of  sixpences  in  a  dollar),  the  quotient  will  be  the  answer  in  dol- 
lars and  decimals  of  a  dollar;  if  any  odd  pence  remain,  take  aliquot 
parts  of  a  pound. 

M  97 


EXAMPLE. 

What  is  the  par  value  in  federal  money  of  £246.16.9? 

246 
40 

9840 

33  sixpences  in  16s.  6d. 

9)9873 

-      Cts. 

1097  :  5,56=3d.  the  fr  of  £1,  or  $4.44.44 


Ans.  $1097.       05. 

To  obtain  the  real  value,  the  premium  of  exchange  above  par,  or  the 
discount  below  par,  must  be  added  or  subtracted,  as  the  case  may  be. 

EXAMPLE. 

If  A.  wants  to  remit  £50  to  England  when  exchange  is  at  8J  per  cent. 
premium,  what  sum  in  federal  money  must  he  pay  for  the  Bill  ? 

50 
40 

9)2000 

Par  value,       222.22=2  sixpences  or  Is.,  22  cents. 
Add  8J  per  cent,  premium,     18.89  nearly. 

Ans.  $241.11 

To  reduce  Federal  to  Sterling  money  at  par,  the  operation  is  just  the 
opposite  of  the  preceding  example.  Multiply  by  9  and  divide  by  40,  the 
quotient  will  be  the  answer  in  pounds  and  decimals  of  a  pound,  which 
reduce  to  shillings  and  pence. 

E  X  A  M  P  L  E  . 

A  factor  in  Boston  has  the  net  proceeds  of  a  consignment  amounting 
to  $5000,  which  he  is  desirous  of  remitting  to  his  principal  in  London. 
For  what  amount  in  sterling  money  must  he  purchase  a  Bill  —  exchange 
being  9  per  cent,  premium  ? 

5000  109  :  100::  1125 

9  100 

4.0)4500.0  109)112500 

£1125.00  par  value.  1032.12=s£1032.2.2  Ans. 

96 


CHAIN-RULE, 

Or  Rule  of  Equations,  an  arithmetical  formula  of  Geirnan  origin, 
which  is  of  great  practical  utility,  particularly  in  exchange  calculations. 
It  is  so  called  from  the  terms  being  stated  as  equations,  and  connected  as 
it  were  by  a  chain,  so  as  to  obtain  by  one  operation  the  same  result  as 
by  any  number  of  different  questions  in  the  Rule  of  Three. 

RULE  . 

Arrange  the  several  terms  in  two  columns  of  antecedents  and  conse- 
sequents,  as  follows : — enter  the  term  of  demand  in  the  right  hand 
column ;  enter  on  the  line  below  in  the  left  hand  column  the  first  ante- 
cedent, which  must  be  of  the  same  denomination  as  the  term  of  demand, 
and  equal  in  value  to  the  corresponding  consequent  placed  contiguously 
in  the  right  hand  column ;  and  so  on  throughout,  making  the  terms  lead 
from  one  to  the  other,  so  that  the  last  term  may  be  of  the  same  denomi- 
nation as  the  answer  required. 

EXAMPLES. 

Required  the  number  of  French  Francs  which  may  be  had  for  $5000 
federal  money,  reckoning  $4.82  equal  to  £1,  and  £1  equal  to  24  J  francs. 

STATEMENT. 

$5000.  ? 

$4.82  =     £       1. 
£1.      =  Francs  24A 
5000x1X241       122500 

= —  Francs  25.414.93  Ans. 

482X1  482 

Required  the  number  of  Roman  Paoli  which  may  be  had  for  $5000 
federal  money,  reckoning  $4.84  equal  to  £1,  and  £1  equal  to  25  French 
francs,  and  100  francs  equal  to  200  Paoli. 

$5000.  ? 

$4.84  =  £1. 

£1.        =  Francs  25. 
Francs  100     =  Paoli     200. 
5000X1X25X200        25000000          Pnoli.  BajBcChi. 

= =  51,652.89  Ans. 

484X1X100  48400 

Required  the  price  per  Ib.  of  Tea,  purchased  in  China  at  30  tales  per 
pecul  of  133|  Ibs. ;  720  tales  being  equal  to  £200,  and  £1  equal  to  $4.84. 

1  Lb. 

Lbs.    133J  =     1  Pecul. 
Pecul      1    =  30  Tales. 
Tales  720    =  £200. 
£1.    =  $4.84. 
1X1X30X200X4.84        2904000        Ctg.  Min,. 

= =  30.25  per  Ib. 

133J  X 1X720X 1  96000         the  price  required. 

99 


EQUATION  OF   PAYMENTS. 

When  several  sums  of  money,  due  at  different  times,  are  owing  from 
one  person  to  another,  it  is  sometimes  required  to  find  the  time  when 
they  may  be  all  discharged  in  one  payment  without  injury  to  either 
party :  this  is  called  equating  the  payments ;  and  the  principle  of  the 
rule  consists  in  finding  the  time  when  the  interest  of  the  sums  which  are 
deferred  till  after  they  are  due  is  equal  to  the  discount  of  those  which 
are  paid  before  they  are  due. 

R  u  L  E  . 

Multiply  each  sum  by  the  time  when  it  is  due,  then  divide  the  sum 
of  these  products  by  the  total  debt ;  the  quotient  is  the  time  at  which  all 
the  money  ought  to  be  paid. 

NOTE. — This  rule  is  founded  on  the  supposition  that  we  are  to  find  the  time  when 
the  interest  of  the  sums  which  are  kept  till  after  they  are  due,  is  equal  to  the  interest, 
and  not  to  the  discount  of  those  which  are  paid  before  they  are  due  ;  this,  however, 
is  not  strictly  correct ;  but  since  the  erroneous  practice  universally  prevails  of  tak- 
ing the  interest  instead  of  the  discount  from  sums  which  are  due  at  a  future  period, 
the  above  rule  is  generally  adopted  in  business  as  affording  a  near  and  convenient 
practical  approximation.  The  substitution  of  interest  for  discount  is,  of  course,  to 
the  advantage  of  the  debtor. 

E  X  A  M  P  L  E  . 

A  sum  of  $300  is  due  on  the  2d  March ;  $350  on  18th  March ;  and 
$525  on  17th  April ;  required  an  average  time  for  the  payment  of  them 
all  in  one  sum  ? 

The  number  of  days  from  the  2d  to  the  18th  of  March  is  16 ;  and 
from  the  2d  March  to  the  17th  April  46 ;  hence, 

Debt.  Day*. 

300  : 

350  X  16=   5600 

525  X  46  =  24150 

1.175     .     .     )29.750(25  days  from  March  2d,  or  March  27th,  nearly. 

The  distance  of  time  is  calculated  from  the  2d  March,  because  the  first 
sum  becoming  due  on  that  day,  there  is  no  discount  to  calculate  upon  it. 

There  are  a  great  variety  of  methods  of  calculating  equations,  but  as 
my  object  in  this  work  is  merely  to  give  a  synopsis  of  the  most  approved 
forms,  I  will  merely  introduce  one  other  method. 

EXAMPLE. 

Dolls.      L/olls.          Days. 

A  sala  on  March  2d,  Amt.  300. X  16=   4800 

n     „      „     18th,    „     350.650X30=19500 
„      „  April  17th,     „     525.  


1.175  )24300(21  days  near- 

ards  from  . 
e  27th  of  March. 


ly,  counting  backwards  from  April  17th,  which  gives  the  equated  time 
th 


100 


COMPOUND  EQUATION. 

The  object  of  compound  equation  is,  to  ascertain  the  time  when  th 
balance  of  an  account  that  contains  debits  and  credits,  becomes  due. 


RULE 


First  find  the  averaged  time  when  the  debit  and  credit  of  the  account 
respectively  fall  due,  by  simple  equation.  Multiply  the  number  of  days 
between  the  averaged  dates  by  the  smallest  amount,  and  divide  this  pro- 
duct by  the  balance  of  the  account,  the  quotient  will  be  the  time  required 
for  calculation.  If  the  largest  amount  falls  dnejirst,  the  time  is  counted 
back  from  the  earliest  averaged  date ;  if  the  largest  amount  falls  due  last, 
the  time  is  counted  forward  from  the  last  averaged  date,  which  is  the 
day  upon  which  the  balance  of  the  account  falls  due. 

EXAMPLE. 

The  averaged  date  upon  which  the  Dr.  side  of  an  account  amounting 
to  $800  falls  due,  is  the  1st  July ;  the  averaged  date  of  the  Cr.  side 
amounting  to  $1000  falls  due  the  1st  August.  From  1st  July  to  1st 
August  is  31  days,  hence, 

Day». 

Amount  of  Cr.  1000  31 

„  Dr.   800  800  smallest  amount. 

Balance,      200  )24800 

124  days,     counted 

forward  from  August  1st,  gives  the  equated  time  of  paying  the  balance 
$200  on  the  3d  December  next. 

To  illustrate  the  latter  part  of  the  rule,  I  have  reversed  the  amounts, 
making  the  largest  sum  fall  due  first,  and  the  smallest  the  last. 

Amount  of  Dr.  1000  °Sl 

„  Cr.    800  800  smallest  amount. 


Balance,      200  )24800 

124    days,    counted 
lack  from  1st  July,  gives  the  averaged  time  27th  February  last. 

I  have  introduced  this  method  because  it  is  very  generally  adopted  in 
Mercantile  Houses.  For  myself,  I  always  calculate  these  questions  by 
Interest,  which  is  the  most  correct. 

101 


EQUATION  OF  DIVIDENDS. 

RULE. — To  find  each  person's  proportion  of  the  gain  or  loss,  multiply 
the  whole  gain  or  loss  by  each  person's  capital,  and  divide  each  product 
by  the  total  investment.  The  quotients  will  be  the  gain  or  loss  required. 

EXAMPLE. 

A.,  B.  &  C.  entered  into  a  speculation,  each  to  share  in  the  gain  or 
loss  in  proportion  to  his  capital  invested.  A.  invested  $3000,  B.  $2000, 
C.  $1000.  There  was  a  gain  upon  the  operation  of  $600.  Required 
the  amount  of  each  of  their  gains  ? 

Gain  600  Gain  600 

A.'s  investment,  3000  B.'s  investment,  2000 


Capital,        6|000)1SOO]000  Capital,       6jOOO)1200|000 

A.'s  Gain,      $300.  B.'s  Gain,      $200. 

Gain  600 

C.'s  investment,  1000  (  A.'s  Gain,     $300 

Proof ,1  B.'s     „  200 


Capital,         6|000)600|000  (C.'s    „ 

C.'s  Gain,      $100. 


EQUATION  APPLIED  TO  THE  STORAGE  OF  PROPERTY. 

Received  and  Delivered  on  account  of  Elbridge  Gerry,  sundry  bales 
Cotton,  up  to  4th  Sept.  1S45 — Storage  5  cts.  per  bale  per  month. 

Received.  Delivered. 

Bales.          Days.          Product.  Bales.          Days. 

July  5.  100  X  61  =  6100  Aug.  1.  150  X  34  =  5100 

/,  15.  100  X  51  =  5100  Sept.  4,  500  X  0  = 
Aug.  16.  300  X  19  =  5700 

„  19.  200  X  16  =±  3200  650       5100 

Received,   700      20100 
Delivered,   650       5100 

Dny». 

Bal.  in  Store,  50        3|0)1500|0 

500  bales  1  month  at  5  cts.  each  is  $25.00. 
102 


Again. 

Bales.  Days. 

July  5.     Received,  100  X  10  =  1000 
„  15.  „         100 

200  X  17  5=  3400 
Aug.  1.    Delivered,  150 

50  X  15  =    750 

Aug.  16.     Received,  300 

350  X    3  =  1050 
„    19.     Received,  200 

550  X  16  =  8SOO 
Sept.  4.     Delivered,  500 

3|0)1500|0 
Balance  in  Store,     50 

500  bales  1  month. 


MEASUREMENTS. 

To  find  the  contents  of  a  board,  &c. 

RULE. — Multiply  the  length  of  the  board  in  feet,  by  its  breadth  in 
inches,  divide  the  product  by  12,  and  the  quotient  is  the  contents  in 
square  feet. 

Required  the  content?  of  a  board  20  feet  long  by  15  inches  wide. 
20X 15  ==  300  -f-12  =  25  feet.  Ans. 

In  measuring  plank,  joist,  &c.,  the  thickness  must  be  multiplied  by  the 
breadth,  to  bring  it  to  board  measure  or  one  inch  stuff. 

Required  the  contents  in  board  measure  of  a  plank  1J  inch  thick,  15 
inches  wide  and  20  feet  long. 

1 J  X 15X20  =  450  -M2  ==  Feet  37,  in.  6.  Ans. 

To  find  the  area  of  a  square,  multiply  the  length  by  the  breadth. 

Required  the  number  of  square  feet  in  a  parcel  of  land  which  mea- 
sures 20  by  69  feet. 

20X69  =  Ans.  1380  square  feet. 

Feet  multiplied  by  feet  produce  feet ;  feet  multiplied  by  inches  produce 
inches ;  inches  multiplied  by  inches  produce  twelfths  of  inches. 

103 


EXAMPLE. 

Required  the  number  of  square  feet  in  the  wall  or  plaster  of  a  room 
which  measures  16  feet  6  in.  by  18  feet  8  in. 

Ft.    In. 

16.6 

18.8 

128      ) 

16        (16X18 

9.        18X  6 

.4.0     6X  8 

10.8.-  16X  8 


Feet  308.0.0  Ans. 


GEORGE  N.  COMER, 


139    WASHINGTON    STREET  —  BOSTON, 

Offers  his  services  for  the  adjustment  of  Disputed  and  Complicated 
Accounts,  Insolvent  and  other  Estates. 

BOOKS  POSTED,  &c,, 

and  taken  charge  of,  by  yearly  contract  or  otherwise. 

DEEDS,  CONTRACTS,  SPECIFICATIONS,  LEASES,  &c.,  accurately  drawn  up. 
GENERAL  AVERAGES  and  PARTIAL  LOSSES  ADJUSTED,  ARBITRATIONS 
ATTENDED,  and  all  business  pertaining  to  that  of  an  Accountant,  executed 
with  fidelity  and  despatch. 


Mr.  Comer  respectfully  announces  that  he  receives  into  his  office,  in 
the  afternoon  and  evening,  Students  of  all  ages,  for  practical  instruction  in 

MERCANTILE    WRITING, 
COMMERCIAL  CALCULATIONS, 


and  the  general  duties  of  the  Counting  Room,  upon  as  moderate  terms 

as  those  of  the  "  Academies." 

(£7"  Each  Student  is  instructed  by  himself,  and  not  in  a  class.  ^QJ 
Having  frequent  applications,  Mr.  C.  can  generally  procure  employ- 

merit  for  such  of  his  students  as  may  require  it. 

104 


NAVIGATION. 

THE  subscriber  respectfully  gives  notice  that  he  has  annexed  to  his 
Initiatory  Counting-  Room,  No.  139  Washington  Street,  Boston. 

A    NAUTICAL    INSTITUTE, 

under  the  immediate  charge  of  a  gentleman  for  many  years  attached  tc 
the  United  States  Navy  as  a  Professor  of  Navigation  and  Nautical 
Science,  where  those  designed  for  and  following  the  sea  will  have  the 
very  best  means  of  acquiring  a  thorough  practical  knowledge  of  Navi- 
gation, including  the  Lunar  Observations,  and  every  branch  necessary 
for  an  accomplished  navigator. 

Terms  moderate,  and  entire  satisfaction  guarantied. 

GEORGE  N.  COMER. 

JULV   1847. 


EXTRACTS  FROM  BOSTON  PAPERS. 

"  COMER'S  INITIATORY  COUNTING  ROOM,  139  Washington  St.  conducted  by  Mr. 
George  N.  Comer,  a  skilful  accountant  and  successful  instructor,  is  one  of  the  best 
establishments  of  the  kind  in  the  United  States.  The  extensive  and  varied  com- 
mercial experience  of  Mr.  Comer  will  be  found  invaluable  to  those  who  may  re- 
quire the  aid  of  a  competent  practical  accountant."  —  Boston  Post. 

"COMER'S  INITIATORY  COUNTING  ROOM.  —  "We  commend  this  as  being  one  of  the 
most  valuable  institutions  of  the  kind  in  the  country.  Mr.  Comer  is  a  thorough 
business  man ;  with  the  education  and  deportment  of  a  gentleman,  and  a  facility 
of  imparting  information  which  is  highly  appreciated.  The  number  of  his  former 
students  now  filling  responsible  situations  in  the  city,  procured  upon  his  recom- 
mendation, is  conclusive  evidence  of  the  usefulness  of  this  establishment."  — 
Daily  Evening  Traveller. 

"  COMER'S  INITIATORY  COUNTING  ROOM.  —  The  character  of  the  information  im- 
parted at  this  establishment  is  essentially  utilitarian."  —  Courier. 

"  BOOK-KEEPING.  —  It  is  a  pleasure  to  us  to  call  the  attention  of  our  readers  {o 
the  establishment  of  Mr.  George  'N.  Comer,  for  practical  instruction  in  Book-keep- 
ing. It  is  a  point  of  the  greatest  importance  in  the  education  of  every  man  of 
business,  to  know  the  best  way  in  which  .books  can  be  and  are  kept,  —  to  be  able, 
in  fact,  to  keep  and  understand  a  set  of  books  ;  and  so  to  do  it  that  all  other  intel- 
ligent book-keepers  will  understand  them.  Mr.  Comer  has  himself  been  a  practi- 
cal merchant  and  book-keeper,  and  is  now  largely  employed  by  our  first  merchants 
to  regulate  their  books.  This  business  he  is  constantly  doing,  at  his  office  in  State 
street,  in  connection  with  which  he  has  large,  elegantly  and  appropriately  fur- 
nished rooms  for  students,  where  they  have  every  facility  for  becoming  acquainted 
with  Book-keeping  —  as  it  is  actually  conducted  by  the  best  clerks  in  the  city.  It 
is  like  studying  medicine  in  a  hospital.  The  teachers  of  our  public  schools,  who 
teach  Book-keeping,  fin-n  it  for  their  interest  to  study  with  Mr.  Comer ;  and  young 
men  who  contemplate  business  cannot  probably  anywhere  find  better  instruction." 
—  Daily  Chronotype. 

"  COMER'S  INITIATORY  COUNTING  ROOM  is  one  of  the  best  conducted  institutions  in 
this  country,  and  will  be  found  well  worthy  of  a  visit  by  those  interested  in  mer 
cantile  education."  —  Daily  Journal. 

"NAVIGATION.  —  Mr.  George  N.  Comer,  the  well-known  accountant,  has  an- 
nexed to  his  popular  establishment  in  State  street,  a  Nautical  Institute,  under  the 
superintendence  of  a  Professor  of  Navigation  and  Nautical  Science  in  the  United 


States  Navy.  An  establishment  of  this  character  has  been  long  wanted  in  thii 
city,  and  we  commend  Mr.  Comer  to  those  interested,  as  one  well  calculated,  from 
his  energetic  business  habits,  to  carry  out  any  enterprise  he  may  undertake." 
—  Boston  Daily  Mail. 

"NAUTICAL  INSTITUTE.  —  Those  persons  interested  in  maritime  affairs,  will  be 
glad  to  learn  that  Mr.  G.  N.  Comer  has  engaged  the  services  of  an  eminent  Pro 
fessor  in  United  States  service,  for  the  purpose  of  giving  a  thorough  practical 
knowledge  of  Navigation  in  all  its  branches.  The  want  of  such  an  establishment 
has  been  long  felt  in  this  city,  and  some  of  our  first  merchants  and  ship-owners 
have  promised  to  assist  Mr.  Comer  with  their  influence  in  the  undertaking."  — 
Boston  Herald. 

"  BOOK-KEEPING.  — In  these  days,  no  course  of  mercantile  education  can  be  said 
to  be  complete,  or  even  of  much  practical  utility,  without  a  systematic  acquaint- 
ance with  the  science  of  Book-keeping.  The  times  have  gone  by,  long  since, 
when  worthy  traders  kept  their  accounts  'by  score  and  tally' — trusting  their 
charges  and  discharges,  their  debts,  credits,  and  balances,  to  pencilled  memoranda 
in  thumbed  pocket-books,  or  to  chalked  hieroglyphics  upon  cellar  doors.  An  ap- 
prentice can  never  qualify  himself  for  a  commercial  clerkship,  or  emerge  safely 
and  creditably  into  active  mercantile  life,  without  understanding  the  principles  of 
the  Leger  and  its  concomitants,  and  accomplishing  himself,  through  study  and 
instruction,  in  all  the  requisites  of  an  experimental  accountant. 

"  There  are  hundreds,  if  not  thousands,  of  young  men  among  us,  and  countless 
numbers  also  '  yet  for  to  come,'  who  are  doubtless  ambitious  to  attain  these  desir- 
able qualifications.  The  well-known  establishment  of  Mr.  Comer,  conducted,  as 
it  is,  by  a  gentleman  of  the  most  extensive  experience,  offers  extraordinary  facili- 
ties to  those  v/ho  would  acquire  thoroughly  the  necessary  amount  of  knowledge  in 
the  premises.  There  are  other  branches  of  instruction,  and  of  business  also, 
pursued  at  the  same  excellent  institution."  —  Boston  Star. 

"COMER'S  INITIATORY  COUNTING  ROOM  is  open  daily  for  the  reception  of  stu- 
dents in  B  ?TV?  keeping  and  accounts.    Mr.  Comer's  practical  acquaintance  with 
»U>irs  renders  him  a  very  desirable  instructor."  —  Evening  Traveller. 


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